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No. 34,141 


-49/92 


LONDON* THUKSDAY, DECEMBER 3, 1992 


ISIOH 



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Questions of Power and Mistrust Drive 
^ Bickering on Hong Kong Democracy 


By Nicholas. D. Kristof 

New York Times Service 

BONG X.GNG — Wars in this part of the 
woddhavealways been a bit odd, ever ancetbe 
. 19th aymuyinvariems by the British to force 
the Chinese to accept ’opium. Today’s worsen- 
ing conflict over Hong Kong is dp exception. 

On the surface, the war of words between 
Britain and China over Hong Ko ng is about 
British efforts to make this territory a bit more 
democratic. But more fundamentally, the con- 
flict is a bom power, mistrust, pride and a tussle 
over who w31 rule Hong Kong until its return to 
China in 1997. 

■ Deeply sospidous that the West is trying to 
subvert the resurgence of fhinp as a major 
power, the dderfy leaders in Beijing seem to be 
operating on the basis of flawed information ' 
and quixotic perspectives. They believe that 
Britain, with the United States lurking in the 
background, is trying to sabotage China's re- 
covery of Hong Kong and undermine its sover- 
«£aty after 1997. 

The dispute is centered on one mild-man- 
nered man: Chris Patten, who arrived in My to 
‘save as governor of Hong Kong for the next 
five years. Mr. Patten promptly broke with the 
previous British practice of deferring to Beijing 
on major decisions, and k is this independence 
and assertiveness — more than anything in 
particular that he has done — that Beijing finds 
most threatening, 

“Patten Is now suffering from the aftermath 
of a long period of British kowtowing to the 
Chinese," said Martin CM. Lee, a lawyer who 
is the leader of the territory’* democracy move- 
ment The problem, as Mr. Lee sees it is that 
the Chinese are so used to British deference that 
they fed insulted and threatened when Mr. 
Patten does not do as they want 

The immediate trigger for the dispute was 
Mr. Ratt en’s proposals to make the 1995 legisla- 
tive elections more democratic. The proposals 
include expanding the number of people who 
can vote for seats representing Hong Kong 


industries and lowering the voting age to 18 
from2l. . 

While China regards any expansion of de- 
mocracy as likely to make Hong Kong more 
difficult to govern after 1997. it was outraged 
most by the fact that it was not given a chance 
to exercise a veto. Since then there have been 
other episodes that suggest to China that Mr. 
Patten £s trying to turn a pattern of cooperation 
— or, as coticssaw it, of genuflection — into 
. one of confrontation. 

For example, Mr. Patten became the first 
goVemor recently to meet a Taiwan official, 

NEWS ANALYSIS' 

mad be has decided to go ahead with construc- 
tion of an airport without final authorization* 
from China. Tlris week, an exiled Chines e dissi- 
dent, Wang Rpowang, is in the lenitory (oc a 
visit that breaks the previous polity of Hong 
Kong’s refusing to give visas to people who 
might offend orirta. 

“There has been do British official like Giria 
Patten, who is so perfidious,” lamented the 
Wen Wei Po, a China-controlled newspaper in 
Hong Kong. 

China’s feelings of insecurity and endrcle- 
meat apparently are the major reason why it 
has reacted so harshly to Mr. Patten's propos- 
als. 

Seared by the humiliations it soft ered at the 
bands of foreign powers beginning in the early 
19th century, China remains deeply suspicious 
that Mr. Patten’s real aim is to fail China's 
triump h m recovering Hong Kong. 
officials sometimes suggest, for example, that 
Britain is trying to use democracy activists as hs 
agents so that London can continue to control 
the tem’tory after 1997. 

“What does he want to do?” Wen Wei Po 
asked. “Does he want to pursue “Hong Kong 
independence' or ‘semi-mdepende&ce far Hong 

See CHINA. Page 2 


• . . * = 

■v -V>.- 
-s- • 

■ 7> 


PoEtical fears famt Hoag Kong atodo, and the gloom ooirid spread. Page 13.. 


HEAT OF THE MOMENT —AcfbKPrinie Minister Yegor T. Gaidar, with his economic program under attack, wiping Ms face in 
a moment of strong emotion Wednesday as he told Congress that Russia must stop soaring inflation and runaway spending. Page 7. 


Neo-Nazi Words and Music: Rocking to an Inflammatory 4/4 Beat 


By Ferdinand Protzman 

New York Tima Service 

BONN — The house lights dim. A red glow nhnmnatfis 
the stage as dry-ice fog cascades into the audience. The 
crowd goes into a frenzy as four shaven-headed musicians 
rip into a song, drums thumping a 4/4 beat, electric guitars 
blaring ample chords at piercing volume, lead singer 
hoarsely screaming the words. 

Were it not for the lyrics, it might bejnst another teenage 
rock show. But this is a concert in Zwickau, in Easton 
Germany, by Storkraft, a DQssddorf-based skinhead band 
whose name means destructive force. They are performing 


\ -y , ... 

hits like their 1990 song; “Kraft fra Deutschland," of 
“S trength for Germany," and the lead singer, JOrg Pctrisch, 
bowls the words: 

We fight shaved, our fists are hard as steel. 

Our haul beats true for our fatherland. 

Whoever may happen, we wiO never leave you. 

We will stand true for our Germany, 

Because we are the strength for Germany, 

That makes Germany dean. 

Germany awake! 

The tag line is a slogan the Nazis used during their rise to 
power in the eariy 1930s, and when (he concert ends an 


Kiosk 


audience of about 1,000 youn£ people' begins chanting, 
“sieg beaL" Some give the stiff-armed fascist salute. Several 
young meal unfurl a Wack-white-and-red Third Reich battle 
flag emblazoned with the swastika. 

Fans of rightist and neo-Nazi rock — known as Oi music 
— can be found in the United States, South America and 
throughout Europe. In the last few years, it has been 
gaining popularity and acceptance in Germany and parts of 
Eastern Europe. 

In mid-October, for example; the album ‘'Holy Songs" 
by a four-man West German band called Bohse OnkeJz, or 
Evil Undes, dhnbed to No. 5 on Germany’s pop charts. 


~Ttisa heady position for a group that started out lOyears 
ago with songs like “Turks Out," the chorus of which goes: 
“Turks out, Turks out — Turkish pack, out, out, out. out of 
our land." The recording is still available. 

ft is impossible to gauge the effect of rightist music on the 
increased neo-Nazi violence, just as it is to measure the 
influence of heavy metal music's contribution to satanism. 
But the sentiments expressed by bands like Storkraft and 
Bohse Onkelz have been reflected in escalating anti-for- 
eigner violence in Germany. 

Advocating Nazism, racism, xenophobia, violence and 

SeeOL Page 6 




Bundesbank Steps In Early 
To Help Defend the Franc 


AGAINST THE WALL — National 


in Tkvarohefi, Georgia, captured in ethnic fighting, guarded by an 


Israel Seeks to End PLO GontactBan 

JERUSALEM (NYT) — After a two-month delay sought by Prime; 
Minister Yitzhak Rabin, the government asked parliament cm 
Wednesday to lift a ban cm contacts with the Palestine liberation 


The first reading of the bill passed by a vote of 37 to 36, Israeli radio 
reported; to become law it must pass three readings. Justice Minister 
David Libai proposed a repeal of a 1986 law that prohibits meetings 
between Israelis and PLO members. Mr. Libai said the ban was 
“against the principles of democracy" and sought “to force a political 
view on individuals.” He said antiwar campaigners convicted of 
violating the restriction had not endangered state security. 


■Health /Science 

A history of climate is stored in 
tree rings. Page 12. 

Business /Finance 

UJS. executives are scrambling to 
take pay packages now. Page l3. 

EC steelmakers fear backlash 
from a U.S. tariff move. Page 15- 


Crossword 

Weather 


Page 22. 
Page 21 


Down 

8.11 

3.286.25 


The Dollar 

Hem York. Wad, ctoa 

DU 1.574 

Pound 1-5525 

yen 124.42 

FF 5.3655 


Down 

0 . 12 % 

90.56 


1.573 

1.5485 

1124.15 

5.3665 


By Carl Gewirtz 

Inummioml Herald Tribune 

PARIS — With speculation increasing 
n gaingt the French franc, the German centra! 
bank signaled Wednesday that it was prepared 
to go even further than it did in September to 
head off a devaluation of the franc. 

The significant new dement was (hat the 
Bundesbank intervened, selling Deutsche 
marks to purchase francs, without requiring the 
French central bank to first step up its own 
defense by raising domestic interest rates, as it 
did the last time the franc came under attack. 

This time, the Bundesbank intervened to 
head off an assault for winch it appeared at 

Banket^ sakft^market had been roiled by 
comments made Tuesday by Helmut Schlesing- 
er, president of the Bundesbank, that the ex- 
change-rate mechanism's unlimited obligation 
to intervene was “a powerful incentive for spec- 
ulation." 

“It’s one thing for the Bundesbank to do 
nothing about lowering interest rates,” an irate 
German banker said, “but quite another to be 
pinpointing problems when markets are so ner- 
vous." 

“I'd much prefer that he keep quiet," the 
banker said. 

As in September, the Bundesbank interven- 
tion occurred earlier than is required under tbe 
. European Community’s fixed exchange-rate 
mechanism, a clear demonstration of wOHng 
support. Intervention is Obligatory only when a 
currency has hit its floor level The official floor 
is 3.4305 francs per mark. 

The German intervention began when trad- 
ing was at 3.4095 francs per mark and had an 
immediate, if not long-lasting, impact. The 
franc rose to a high of 3,40)0, but by the close 
of the day, and despite continual support from 
the Bank of France, the franc was back at 


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"The pressure is still there,” said Erick Mull- 
er at Cridit Commercial de France. 

Tbe chief dealer at a U.S. bank in London 
said, "We're in for a continuing battle.” 

But in Lbe view of a senior French official, 
"it’s a battle speculators have already tan once 
— and will lose again." 

The market is mistaken in underestimating 
“the capacity of France and tbe Franco-Ger- 
man commitment" to defend the exchange rate, 
the official said. The issue may arise as Presi- 
dent Francois Mitterrand and Chancellor Hel- 
mut Kohl meet Thursday and Friday in Bonn. 

The Danish krone also came under pressure, 
and the central banks of Belgium and the Neth- 
erlands joined the Danes in supporting the 
currency. 

A spokesman for tbe Bundesbank said that 
from the context of Mr. Schlesinger’s remarks, 
it was clear Mr. Schlesinger was not referring to 
the franc but rather to currencies pegged at 
what he considers unrealistic values. Mr. Schle- 
singer and other senior Bundesbank officials 
have repeatedly said that the fundamentals for 
tbe French franc and the Danish krone do not 
warrant a devaluation of those currencies. 

Nevertheless, doubts in Lhe foreign-exchange 
market persist about the ability of France and 
Denmark to maintain tbe high level of domestic 
interest rates needed to hold their nurendes 
stable at a time of widening economic slow- 
down. 

Concern about tbe burden of high interest 
rates has been fueled by repeated statements 
from Mr. Schlesinger and others that the Dec. 


UN Is Close 

To an Accord 
On a Force 
For Somalia 

U.S. and Allies Agree 
To Greater Council Role 
Than in the Gulf War 

By Paul Lewis 

Sew Yoke Times Service 

UNITED NATIONS. New York — The 
United States has agreed to a significantly 
greater degree or United Nations involvement 
in the new military operation that it wants the 
Security Council to authorize for Somalia than 
it was prepared to accept two years agp in the 
Gulf War against Iraq. 

This became clear on Wednesday when lhe 
United Slates. Britain. France and Russia — 
four of the five permanent Security Council 
members with a veto on decisions — agreed on 
a draft resolution authorizing the humanitarian 
enforcement operation that they want the coun- 
cil to adopt later this week. 

Officials predicted that final action on the 
resolution could come as early as Thursday. 

China, the fifth permanent member, has al- 
ready made clear ihht it will abstain when the 
council votes to allow the United States to lead 


Prospects for a Som&fi mission are Weak, CIA 
- reBs President Bush. Page 6. 


such an operation, designed to disarm Soma- 
lia's warring factions and allow aid workers fo 
deliver food to that country's starving people in 
safety and free from looting. 

The draft resolution approved Wednesday 
would respect the Bush administration's insis- 
tence that the United Slates have control of the 
multinational force. 

But the United Suites and its allies have 
made several concessions to developing ind . 
industrialized nations that said the Security 
Council had lost all influence over the conduct 
of tbe Gulf War after voting to authorize it. 

The Uni ted States is now prepared to involve : 
the UN secretary-general Butros Butros Ghali, 
more deeply in the preparations for the opera- , 
tion and to ensure that he and the Security 
Council are kepi much more closely informed 
about the day-to-day conduct of the Somali 
operation than was the case with Operation 
Desert Stonn. 

African and other developing countries , 1 
however, are pressing for additional changes in 
the draft resolution that would further deepen 
UN involvement by authorizing the seemary- 
general to organize the force himself and per- 
sonally appoint its commanding officer. 

[President George Bush called President- 
elect Bill Clinton to discuss Somalia, The Asso- 
ciated Press reported from Washington. The 
White House said Mr. Bush was also consulting 
world leaders. 

JAn administration official said Mr. Bush 
was considering whether to address tbe Ameri- 
can people by television to explain tbe military’ 
relief mission.] 

John M. Goshko and Trevor Rowe of the 
Washington Post reported earlier from the Unit- 
ed Nations: 

Responding to Mr. Butros Ghali’s call for 
guaranteeing deliveries of food and medicine 
through “a countrywide show of force," die 
United Stales circulated proposals Tuesday 
and Wednesday Tor creating a U.S.-command- 
ed force operating under a UN mandate, and 
diplomats said the formula did not face serious 
opposition. 

“Every single member accepted the Secre- 
tary-general's analysis that the lop priority is to 
give aid to people who are starving," said Sir 
David Hannay, tbe chief British delegate to the 
United Nations. "There is a remarkable conver- 
gence on the idea of a multinational force, and I 
believe we are moving toward a decision bv 
Thursday." 

The goal, diplomats said, is to work out a 
resolution ensuring that any American troops, 
who would make up the biggest part of tile 
force, remain under U.S. c omman d. At the 

See SOMALIA, Page 6 


Marine Force 
Of 1,800 Sails 


For Region 


from Mr. Sc&lesmger and outers maiuwuec. ZZZ " 

10 meeting of the^ ^Bundesbank’s policymakers, 

lbe to of this yar. is unliMyu. resulting d 


easing of German monetary policy. 

The continual stretching out of the liming of 
' tbeexpected cut in interest rates risks creatinga 
major crisis ahead of the French parliamentary 

See FRANC, Page 14 


For Hollywood, a Call to Boycott Aspen Hits Too ClosetoHome 


By Bernard Weinraub 

New York Times Service 

HOLLYWOOD — This town is virtually 
engulfed by civil war. The rich are in turmoil 
Statements arc [tying over tbe fax machine. 
There are angry phone calls. What’s a political- 
ly correct entertainment personage to do? Go 
to Aspen over Christmas or not? 

The underlying issue: Barbra Streisand’s re- 
cent suggestion that die would be willing to 
join a boycott of Ccfonido, the state whose 
voters last month overturned laws guarantee- 
ing civil rights to homosexuals. But fallowing a 


tsunatm of negative reaction from stars and 

S&I in Aspen to mncTiip^ thdbT$^,000 
Land-Rovers for the holidays, Ms. Streisand 
backed off. It was as if the smger and director 
had dared to propose that her mends in Holly- 
wood actually . . . sacrifice. 

One studio executive said simply; “This flap 
proves the axiom that people in Hollywood are 
perfectly willing to speak out on issues so long 
as it doesn’t affect them or inconvenience 
them." 

Barry Diller, the former chairman of Fox 


Inc. and one of tbe more powerful men in 
town, said, with obvious relief, dm tbe boycott 
issue did not affect him. *1 have a house in 
Utah,” he said. 

The furor began shortly after Election Day, 
when Colorado voters passed Amendment 2, 
which voids and prevents adoption of legisla- 
tion that protects homosexuals from discrimi- 
nation. Quickly, several groups called for boy- 
cotts of Colorado, but the Issue was hugely 
ignored until Ms. Streisand spoke tiro weeks 
later at a glitzy benefit for a Los Angeles AIDS 
project. 


After denouncing the^ Note for hate in Colo- 
rado,* she said, “There are plenty of us who 
love the mountains and rivers of that beautiful 
state, but we most now say dearly that (he 
moral climate there is no longer acceptable, 
-and if we’re asked to. we must refuse to play 
where they discriminate." 

Ms. Streisand's speech was immediately in- 
terpreted as a call for a boycott Unthinkable, 
said much of Hollywood, for whom Aspen is a 
favorite play spot The actress later masted 
that she had not actually called for a boycott, 
but that she would agree to one if asked. By 


whom? “By a responsible group, such as tbe 
American Gvfl Liberties Union,” replied Lee 
Sobers, her spokesman. 

Whether a boycott is potentially effective, 
silly or counterproductive, the precise reason 
Ms. Streisand's comments touched off a fire- 
storm probably lies elsewhere. Quite inadver- 
tently, it sterns, she broke one of the town’s 
cardinal rules, which is that the issues that 
Hollywood speaks out about should remain as 
remote os posable, like apartheid in South 

See ASPEN, Page 6 


International Herald Tribune 

WASHINGTON — A US. Marine task 
force ferrying helicopters, armored vehi- 
cles and i,800 Marines was steaming to- 
ward the Somali coast Wednesday in an- 
ticipation of an expanded United Nations 
relief rcdsaon, U.S. military officials said. 

For security reasons, spokesmen for the 
Pentagon and the Flori debased U.S. Cen- 
tral Command declined to say precisely 
where and when the three-ship task am- 
phibious task force would anchor off So- 
malia. Tbe chief Pentagon spokesman had 
previously indicated that the troops would 
arrive in the area as early as Thursday. 

If ordered to land, the troops would 
presumably first secure an airport, possi- 
bly at Mogadishu, for the eventual arrival 

of thousands of other UA forces by trans- 
port plane. ^ About 6,000 troops from the 
U.S* Army’s 82d Airborne Division are 
reportedly ready for the kind of rapid 
deployment that the mission of escorts 
famine relief supplies would require. ° 

An additional 12,000 paratroopers 
could be sent within a few days, according 
to one account. 

According to lbe Pentagon, Central 
Command officers, who oversee U.S. mili- 
tary operations in the Gulf and Indian 
Ocean, wanted the Marines to be standing 
by in case the UN Security Council autht? 
rizes the use of force to escort food con- ’ 
voys in Somalia. 




i. Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3 , 1992 



** 



Seoul Tries to Play Down Moscow Admission on Flight Data 


WORLD BRIEFS 


By James Stemgold 

Hew Yak Times Server 

SEOUL — The South Korean government, in the 
midst of a closely fought presidential campaign, has 
iSuffered a major embarrassment with Russia's ac- 
knowledgment that it knew that the tapes had been 
removed from flight recorders of a downed Korean 
airliner when President Boris N. Yeltsin handed them 
over, to President Roh Tae Woo last month. 

• During a visit to South Korea two weeks ago, Mr. 
Yeltsin had made a dramatic gesture of giving Mr. 
■Roll the “black box” recorders, which should have 
contained critical information from the final minutes 
■of Korean Air Ones Flight 007. 

The civilian airliner was shot down by & Russian 


pla; 

tori 


y down the Russian acknowledgment. It issued no - 
ormal statement, and senior officials said that Mos- 


cow’s failure to deliver what had been promised prob- 

m ‘ i j' l*i a. n £ 


.abl^ reflected disputes between the Russian military 


am 


fighter jet cm Sept. !, 1983, after it strayisdaver Soviet 


airspace. All 269 people aboard ware i 
, The Korean government tried on Wednesday to 


Yeltsin. 

Bui newspaper editorials and commentaries at- 
tacked Mr. Rob bitterly for taking 1 1 days to acknowl- 
edge that the data recorder in the crash-proof “Mack 
box" had contained no tape and that the voice record- 
er co ntain ed a poor reproduction. 

They argued that Mr. Roh's failure to disclose that 
sooner was a blatantly political act, motivated by the 
government's attempt u> avoid embarrassment during 
the presidential campaign. 

Some commentaries went further, declaring that 
this raised questions about the effectiveness of Mr. 
Rob’s diplomatic initiatives opening relations with 
Commi 


former i 


ironist enemies of 


Korea. 


The so-called Northern Polity has aimed to isolate 
the hard-line Communist regime in North Korea by 
opening relations with its former allies, including 
cniriH and Russia. 

Ml Roh has succeeded in normafeing relations 
with those countries, but has yet to achieve his princi- 
pal goal of bringing the Korean Peninsula closer to 
reunification. 

Opposition legislators demanded on Wednesday 
that the government refuse any more loans to Russia 
because of Moscow’s failure to deliver the full flight 
recorder data. Mr. Roh promised in 1990 to provide $3 
billion in low-interest loans to the Soviet Union when 
relations were normalized South Korea has disbursed 
51 .5 billion, and agreed to resume lending the remain- 
der after Mr. Yeltsin's visit. 

The government said that its ambassador to Mos- 
cow, Hong Sun Young, bad gone to the Kremlin to 


demand an explanation, and had been told by Yuri 
Petrov, a senior aide to Mr. Yeltsin, that Russia had 
deliberately withhdd the originals of the tapes because 
it planned to provide them to an international investi- 
gative body. 

Russia said it would give the tapes to the Interna- 
tional Civil Aviation Organization during a meeting 
on Tuesday. 

Left undear was why Mr. .Yeltsin had not told the 
Kmeans tins when he made what had been interpreted 
as a gesture of goodwill by banding over the battered 
recorders. 


Algeria to Impose (K'enught Curfew ’ 

ALGIERS (Reuters') — Algeria on Wednesday declared an indefinite 
over nigh t curfew to crush Muslim fundamentalist extremists. 

The Interior Ministry said that beginning Saturday night pedetrians 
and vehicles would be banned from the streets between 10:30 PAt and 
5:00 AAt in seven northern and central areas of the country, including 
the capital. 


Yeltsin Plans to Lease Sites on Kurils 


The tapes could contain highly embarrassing infor- 
mation for either Russia or South Korea. 

It remains a mystery why the airliner strayed hun- 
dreds of miles off course, leading it over Soviet 
space, near Sakhalin Island. 


MOSCOW (AP) — President Boris N. Yeltsin 
published Wednesday that foreigners be allowed 
Islands, an idea likdy to create renewed fried 


in a decree 
to lease land in the Kuril 
friction between Russia and 


atr- 


:turc 


both 

were 


Test of Support in Singapore 


Prime Minister Expected to Win By-Election 


By Michael Richardson 

International Herald Tribune 

SINGAPORE — Prime Minister Goh Chok Tong, 
seeking to strengthen his political authority following 
the recent announcement that his two deputies have 
cancer, will run in a by-election later this month, his 
office said Wednesday. 

He and three other members of the governing Peo- 
ple's Action Party, which has been in power without a 
! break since 1939, resigned from Parliament for the 
election, set for Dec. 19. The four men wiD run in the 
same district, a constituency the party carried with 
77.1 percent of the vote in the general election last 
year. Mr. Goh retains his post as prime minister. 

While the by-election was expected, Mr. Gob’s 
decision to make it a personal test of his popular 


They said that even if the party failed to increase its 
share of the vote in the poll, there was no obvious 
challenger to Mr. Goh as prime minister. 

LeeHsieu Loong, the deputy prime minister gener- 
ally seen as heir apparent to Mr. Goh, is unde 
treatment for cancer of the lymphatic system, 
helps the body fight infection. 

The government said Tuesday that Mr. Lee, a son of. 
former prime minister Lee Kuan Yew, would give up 
his cabinet post as trade and industry minister until be 


had recovered. Ong Teng Cheong, the other deputy 

mpnatic 


support was a surprise. 

rinp his a 


He is putting his neck on the line," said Walter 
Woon, one of six nominated members of Parliament 
who take part in parliamentary debates along with the 
81 elected members. 

However, analysts said it was extremely unlikely 
that the government would lose the election. 


pome minister, also has cancer of the lympf 
system. 

Mr. Goh, 51, succeeded Lee Kuan Yew, who 
stepped down as prime minister after 31 years in 
November 1990. 

Mr. Goh called a general election in August 1991.- 
boping to gain a strong endorsement of his more open 
and consultative style of government. His party won 
77 of the 81 parliamentary seats but, in what was 
widely seen as a setback to Mr. Gob's authority, the 
party’s share of votes cast slipped to 59 3 percent from 
61.76 percent in the 1988 general election. 


Khmer Rouge Seize 6 UN Soldiers 


By William Branigin 

Washington Post Same 

MANILA — Six United Nations 


peacekeepers were seized by 
Khmer Rouge guerrillas in central 


Cambodia and seven others were 
wounded by mines or gunfire on 
Wednesday after the Security 
Council imposed economic sanc- 
tions on the radical rebel group in 
an attempt to force its compliance 
with a foundering UN peace plan. 

A spokesman for the UN peace- 
keeping force in Cambodia, Eric 
Fait, told reporters that the six mil- 
itary observers were bring hdd 
“hostage,” but declined to com- 
ment on whether the Khmer Rouge 
had made any demands .for their 
release. ' 

The six — three Britons, two 
Filipinos and a New Zealander — 
were seized Tuesday after they 
were slopped at a Khmer Rouge 
checkpoint near Kompong Thom, 
about 85 miles (135 kilometers) 


north of the capital, Phnom Penh. ’ 

The men, none of them armed, 
were traveling in a rubber boat to 
observe troop movements as part 
of their mission in Cambodia, Mr. 
Fait said. The Khmer Rouge ac- 
cused them of spying for the Viet- 
namese-installed Phnom Penh gov- 
ernment, which has been battling 
the Communist guerrillas since 
1979. 

When UN peacekeepers tried to 
fly into the area Wednesday to look 
for the men, their helicopter was bit 
by ground fire and a French officer 
was wounded in the back, UN offi- 
cials said. 

The officer was identified 


In two separate modents earlier 
. Wednesday, six UN peacekeepers 
were wounded, two of them seri- 
ously, when their vehicles ran over 
anti-tank mines that had apparent- 
ly been newly planted in a well- 
traveled road near Siem Reap in 
northwestern Cambodia, Mr. Fait 
said. 


The series of incidents appeared 
to reflect mounting tension be- 
tween the United Nations and the 
Khmer Rouge, which has refused 
to abide by a peace agreement that 
it signed last year. 



BAD DAY FOR BAD GUYS — Hong Kong police rushing Wednesday into die hideout of a 
gang suspected of kidnapping aodrobberies. Seven officers were injured by a grenade thrown by 
one of the arrested gang members, six men and a woman. In another incident, the police 
exchanged fire with a gang from China that was fleeing after ft robbery and bracked two tourists 
in a taxL Two robbers were killed, three were tort, as were eight poficemen and dvffians. 


. decree, which is subject to approval by the Russian 
could take effect within two weeks, said the business weekly 
sant, which published excerpts from the decree. Russia and J 
rlnim four of the Kuril Islands, off the northern tip of Japan, « 
seized by the Soviet Union at the end of World war IL 
Mr, Yeltsin’s decree would allow regional authorities on the Kuril 
Islands to lease land to foreign investors for up to 99 years, Kommersant 
said. The decree also proposes to make the islands a special economic 
zone with tax-free exports and imports and other tax breaks. 


Brazil Senate Votes to Indict Collor 


BRASILIA (AFP) — The Brazilian Senate on Wednesday voted to 
indict Pre s i de nt Fernando Collor de Mello for corruption and mfiuence- 
ppHrflintr opening the way for his permanent removal from office. 

‘ vi. _ -i 1 r ■__» ■ £1 i. 1 uni, fnrmgllu in 4 i(nnri[ 



ided from office in September after the Chamber 
:h him. The Senate vote on 


Mr. Ctdlorwasi. __ 

of Deputies voted, 441 to 38, to impeach --- - - 

W ednesday was bring watched closely. Analysts had said that tf more 


than 54 senators were present and voted to approve (he committee report, 
: Dec. 18 vote would carry with the same majority. 


it was likdy that the 


Pakistan Bomb Report Worries U.S. 

WASHINGTON (AP) — The State Department expressed continued 
concern on Wednesday over Pakistan's nuclear capability and said 
American officials were stfl] unable to certify that Pakistan has no nuclear 
bomb. 

“We've addressed those concerns repeatedly to the Pakistan govern- 
ment,” said Richard A. Boucher, the Slate Department spokesman. He 
added that Washington had been “actively engaged both with Pakistan 
and with India in efforts to prevent nuclear proliferation in South Asia.” 

He was responding to questions about the Pakistani government’s 
denial earlier in the day that it possesses any nuclear bombs. NBC News 
reported Tuesday that Pakistan had components to make seven nuclear 
'bombs. 


French Want Bigger UN Peace Role ; 

PARIS (Reuters) — France should have a bigger say in running UN 
peacekeeping forces around the world since it provides more than a 
seventh of all the troops, a Senate report said Wednesday. 

The study, by a conservative opposition senator, Francois Tracy, and 
approved by the Senate Finance Committee, said France spent Z5 billion 
francs ($500 million) onpeacekeepmg this year because the UN was short 
of cash and slow to reimburse advances. The report was made available to 
the newspaper Le Monde. 

Mr. Tracy said France should have more say in how peacekeeping 

S ons are run, given that it contributed more than 6,000 of the UN's 
peacekeepers. Some 4,700 French soldiers are deployed in the 
former Yugoslavia, and Paris has also sent 1.400 soldiers to Cambodia. 
The report blamed “Anglo-Saxon and Third World domination” of the 
UN. 


U.S. AIDS Vaccine Test on Humans 


In an effort to prod the Khmer 
Rouge into compliance with the 

lieutenant Cokmd Thierry Monet, ^ 

39. the chief of hnerarions for the Coundl on Monday declared an o0 


as 


39, the chief of operations for the 
military side of the UN mission, 
which now fields about 22,000 
troops, police and civilians in the 
most ambitious such UN operation 
ever undertaken. He was being 
treated in a UN hospital in Phnom 
Penh. 


embargo and economic sanctions 
against areas amfroUed by the 
guerrilla group. 

Mr. Fait said Khmer Rouge offi- 
cials disavowed the capture of the 
six peacekeepers as the indepen- 
dent action of a local commander. 



r _ 

S 



ort 


New $ 1.36 Billion Terminal Is No Cure-All 


By Steven Brail 

International Harold Tribune 


Li Denies China Is Seeking 
Southeast Asia Domination 


Partial Verdict Barred 
In Iran-Contra Trial 


TOKYO — Narita, the congest- 
ed and inconvenient international 


Reuters 


HANOI — Prime Minister Li Peng of China denied Wednesday that 


Beijing wanted to expand its influence in the region and raid its newly 
normalized i 


relations with Vietnam would help ensure stability in Asia. 
Mr. Li. the first Chinese prime minister to visit Vietnam in 21 years, 
said at a news conference after three days of talks that China wanted to 


build economic and political jies with its southern neighbor. 
President Le 


Mr. Li saw President Le Due Anh, the Communist party chief Do 
Muoi and Prime Mmister Vo Van Kiel. 

Vietnam and China fought a bitter border war in 1979 but normalized 
relations in November 1991. 

Mr. Li also denied reports that China planned to buy an aircraft carrier 
from Russia or Ukraine. “All these reports are sheer nonsense and are 
totally unfounded.” he said. 


The Associated Press 

WASHINGTON — Jurors tried 
to deliver a partial verdict Wednes- 
day in the Iran-contra trial of Gair 
George, a former CIA official, but 
were idd to complete thrir deliber- 
ations before announcing a deci- 
sion. 

Judge Royce C. Lamberth of 
U.S. District Court said that ac- 
cepting a partial verdict would gen- 
erate news coverage that might in- 
fluence the balance of the jury's 
deliberations about Mr. Geoige’s 
knowledge of arms-for-hostage 
deals with Iran and the secret ship- 
meal of armaments to the Nicara- 
guan rebels. 


airport outside Tokyo that has be- 
come an embarrassing example of 
Japanese bungling, will be made a 
bit less crowded on Sunday when a 
new $136 billion tendnal building 
opens. But while passengers uring 
the airport will nave more elbow 
room, delays on the ground will 
grow worse because Narita, the 
world's sixth-busiest airport, is still 
limping along on one runway. 

The airport was conceived in 
1966 as an international transport 
hub that would showcase Japan’s 
emergence as a modern nation. The 
new ter minal marks a belated step 
forward for an airport that is still 
far from completed and painfully 
over-crowded. 

A standoff between the govern- 


fanners is stiD proven) 
tion of land needed to buQd two 
nrnways that were part of the origi- 
nal blueprint. 

Fanners say the government 
failed to consult with them before 
forcibly seizing their land. Ten- 
sions re main high, and passengers 
malting the 65-kflometcr (40-mile) 
trek to Narita from Tokyo are 
greeted with barbed-wire fences, 
armed sentries, watch towers and 
baggage inspectors. 

The airport was built to handle 
up to 13 million passengers a year, 
rat the expansion of the Japanese 
economy and rise of the van over 
the past decade has more man dou- 
bled the volume of international air 
traffic to Tokyo. Narita's facilities 
are now woefully inadequate to ac- 
commodate; the growing passenger 
level, which reached 22 million last 
year. 

The new terminal should provide 


complete Narita opened in 1978, 
and airlines fear that renovation of 
the main terminal could trite just as 
long. An airport spokesman said 
there was no firm timetable, but 
that “it will take less than 10 
years." 

The new terminal, where rents 
are nearly double those in the main 
terminal, mil be used by Japanese 
carriers and smaller foreign airlines, 
that contract ground handling to 
the Japanese. An airport spokes- 
man said the division was intended 
to make it easier for passengers to 
find their terminal. Bui some West- 
ern airlines are angry, saying it wjH' 
be a competitive disadvantage to be 
at the mam terminal. 

Although the new terminal will 
be more comfortable, it is 1 J kilo- 
meters from the mam facility, mak- 
ing for tensinal-to-runway taxi 
times of up to 30 minutes. Because 


BETHESDA, Maryland (AP) — A National Institutes of Health 
advisory committee endorsed plans on Wednesday for national AIDS 
vaccine' trials on human subjects but denounced a congressional action 
that mandated the trials. It said that testing of drugs should be based on 
science; not politics. ; ’ 

The adyisof^corfbffiltee to the director of the National Institutes of 
Health voted without opposition to endorse a plan calling for widespread 
testing arifongj>eople infected with the AIDS virus. Details of the trials 
have ydt fo be drawn up. 

Trials of the vaccines were not approved earlier through normal 
scientific .evaluation at the institutes. But Congress in October included in 


the Department of Defense appropriation a $20 million fund far testing 
he mD specified that tbc vaccine trial could be 


of a vaccine, called gp 160. The I 
canceled if the institutes, the Food and Drug Administration and the 
Department of Defense decided within six months that a trial of gpl60 
was not appropriate. 


For the Record 

London poficemen blocked a terrorist attack by blowing up a truck 
loaded with explosives that had been parked in the Tottenham Court 


Road area. A caller claiming to belong to the Irish Republican Army told 
The Associated Press in London late Tuesday that four bombs had been 
planted in the area, a major shopping district. (AP) 


TRAVEL UPDATE 


Poland and the Net h e rl a nds signed agreements Tuesday to allow more 

passenger flights between the two countries from next year, the PAP news 

agency said. (Reiners) 

The 17tb-ceutiHy Place Vendome in Paris, home to prestigious jewelers 
and wat chm a ker s, has shed scaffoldings to reveal a new, pedestrian- 


, . _ - , . i. Because friendly Face. White granite slabs armed the elegant square, built by 

of the shortage of land, designers Louis XIV, into a kind of giant chessboard where parting is banned. 


auuiuou ow-wcen me govern iuougw uaiuuuu&uuuiupioviuc m ure &uuriags oi utnn, designers LOUIS A1Y, IMO a kitul of giant chessboard where na rking k haniwt 
ment and an alliance of leftists and some relief. It is 1.6 times larger bad to make a 550-meter stretch of Facades, around the tall column erected by NapohsonTwere flooded in 


TOKYO 


% 

.-! MS, 


Sepcember 



our facilities ship-shape. And to pay scrupu- 


lous attention to our guests’ every need, big 


1945. The U.S. 


or small — down co the last shirt burton. Today, 


Occupation had 


The Imperial is still one of the grandest hotels in 


K V r :<fe 


begun, and sol- 


Asia. For this, we owe much to the U.S. ofFi- 


'OR THE GRANDEST HOTEL 


cers who stayed 


diers were all 


IPs THE ORIENT, OUR 


with us nearly 


over the famed 


KITCHEN WAS A REAL MESS. 


50 years 


Imperial Hotel. They even ran our kitchen like 


an army mess hall, serving up army fare like 


potatoes and frankfurters. But in the process, they 


also taught us the highest standards of orderliness 


and good management. We learned to keep 


ago — and to all the 


VIPs and execu- 


tives who h?ve stayed with us since. All, without 


exception, have kept us on our toes. They made 


us whar we are. 


And we love them for it. 




IMPE RIAL HOTEL 

TOKYO 




w mfuniuikm. umbKt Tlur Impcndl Hold Tnkyii OtOM-js Sales OfTru.-. Lunina Trf : UWIW5-f r, S. Pax- i<TI ^Jj-lTTfr, 

•Y.iA Td l2l2jMQAni|. F.ln j2I2«T4Ui« UnAnp-te IfcfcUIMTUUJt Rut U13l5*J.2i02. For reservations. confer The Imperial HuuH Tokyo 
TcJ- (O.-liimwilll. K«y in.mwiili. or vnnuui youf nearctf travel agent, or any japan Airilnm alike, 

The new Ball Imperial Hofei resort In Ball, Indonesia, opened October 1. 1992. Tel: (62B61-J4545, Pas: (62B£l-5lS4S 


than the old terminal and boasts 
new amenities such as video rooms 
and shower and keeping areas. 

But the benefits of the additional 
space will be minimized next year 
when a two-stage renovation of the 
main terminal begins. About half 
the main terminal wffl be dosed 
off, so congestion than will about 
what as it is now. Airlines based in 
the mam terminal will have to 
move their facilities when the sec- 
ond stage begins in several years. 

After 12 years .of work, the ti- 


the taxi way one-way. The resulting 
increase in taxi times could mean 
more flights canoded due to crews 
exceeding their legal flying limits 
and more flat tires. 

Officials have little idea when 
the standoff with fanners will end. 
When, and if, it does, additional 
runways could be built, allowing 
Narita to increase the number of 
takeoffs and landings from the cur- 
rent level of 330 per day. This 
would allow many new carriers to 
begin service to and from Narita. 


white light. Cars, which had turned the square into a parking lot over the 
years, are relegated to an enlarged underground car park. (Reuters) 
An Atlantic storm with winds of 80 miles an hour (130 kilometers an 
hour) lashed Britain on Wednesday, blocking roads and raO lines, 
damagin g buildings and causing severe floods. Railroads from London to 1 
the southwest were blocked by flooding, the police in Devon and 
Cornwall said. The National Rivers Association said 16 major rivers were 
swollen and miming at danger levels. (AP) 

fibres oo die West German rail network wfll rise by 434 percent, Jan. 1 
whue those m Eastern Germany will go up by 7. 15percent on the same 
date, a Bundesbahn spokesman said Wednesday. The price of the “rail 
taiometer’ m second dass will rise from 23 to 24 pfennigs (36 to 38 cents) 
m the West, and from 14 to 15 pfennigs in the East The increases are 
subject to approval by the Transport Ministry. (AFP) 


CHINA: A Conflict About Power, Mistrust and Pride In Arabia, 

the business community already P#»ntnmwi Rdrc 
are suggesting that Mr. Patten can- VeHiagOn DRTS 

Women at Wheel 


Kong’ under the pretext of ‘politi- 
cal, ref onnT 


that Mr. Fattens real plan was to 
“impede China’s magnificent rang 
of reunification.” Even Zhou Nan, 
a polished diplomat and the top 
Chinese official in Hong Kong, 
warned that “anyone who attempts 
to turn Hong Kong into an inde- 
pendent or sem-independent state, 
or to prolong colonial rate -in dis- 
guise, will never get his way." 

This may sound like extraordi- 
nary paranoia, but it is a geoumefy 
held belief among some Chinese 
leaders. Some Chinese officials 
even suggest that the United States 
is secretly prodding Mr. Patten — 
even though Washington has in 
fact lagged Canada and Australia 
in backing political change in Hong 
Kong. 

The Chinese perspective under- 
scores one of the most important 
costs to China of its undemocratic, 
political system: It sometimes can- 
not gather information accurately. 

“The people in charge of deci- 
sion-making about Hong Kong 
simply don't know modi about 
said a Chinese who is 
posted in the territory for a Com- 
munist Party-controlled organiza- 
tion. 

Betting’s aim in its recent salvos 
— such as its declaration this week 


that contracts with the Hong Kcmg 
government wlD be invalid after 
1997 unless approved by China — 
is to cause such distress m the busi- 
ness community that pressure will 
build on London to abandon hs 
proposals and assertiveness.' 

The pressure is working to some 
extent The 15 percent tumble, in 
. the stock market oyer the last few 
weeks has convinced some Hong 
Kong people that it is not worth it 
to seek more democracy. Manjr in 


not wm and should back down. 

Still, most officials and legisla- 
tors seem to believe that the de- 
mocracy package will pass a vote in 
the Legislative Council, and Britain 
seems to fed that it cannot give in. 
Officials say that if Britain were to - 
buckle, Grata would demand the 
right to oversee all derisions, and 
the British administration would be 
alame duck for tbc next fivejears. 


Israel Takes a First Step 
On Legal Prostitution 


Agenee Fmtce-Presse 

JERUSALEM — Israel's parliament tpok the first steo on 
Wednesday toward legalizing prostitution and allowing women to 
offer sex to customers on cruises in the' eastern Mediterranean and 
hotels. .. 

Knesset deputies passed the first reading of a bill proposed bv the 
leftist Merefr party, a member of the governing Labor-led coalition 
The bill would allow prostitutes to offer sex on boats cruising the 

Israeli coast and in holds or apartments as well ai grant 

to "limited publicity^ in the press. / 

Two refiaous parties in. the rating coalition had called for the bill 
to be withdrawn but then abstained from the initial vote. 


“Wepri fer pro stitutes to slay out oa the- streets and that their 


clients fed shame, when they meet them,” said Shlomo Benzeri trftki 
•• Orthodox Jemdi party Slias. ““ 

Prostitution is tolerated in bred hot. not legal. 


The Associated Press 

MANAMA, Bahrain — Ameri- 
can servicewomen have been or- 
dered not to drive in public in Saa- 
di Arabia to avoid conflict with the 
kingdom’s Islamic society, U.S. 
military sources said Wednesday. 

The sources said U.S. command- 
ers introduced the ban thrae weeks 
ago in Dhahran, the Gulf-side base 
oT UjS. Air Fence units. 

They said similar orders had ear- 
lier bean issued to womoi serving 
win U.S. units deployed elsewhere 
in the kingdom, such as in Riyadh, 
the capital They did not say when 
«actly the prohibitions were intro- 
duced, or explain why they had 
been kept seem. 

Women serving with US. forces 
m Saudi Arabia can now only drive 
made military compounds, the 
sources said. No specific irip’dent 
as the reason for the' ban, 
which was not applicable ^faring 
the Gulf crisis what the size of 
American forces in the kmgdom 
"ached half a miffioiL 

Saudi women are. vtikd .from 
head to toe and cannotdrivc dus dr 
travel outside the Jrin^toinwiihout 
the pennisskm from a n»ie. rela- 
tive. - - - • • - ‘ 


7i*sy f 


inti 

V i 


■MJIWyui 









■Vc> 

■ . >. t > 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


Page 3 


MM 

few Sir® S -%P®N« 


UlLifij 






APOLITICAL A OTESA 


Capital Can B* a Shock to House Mmn 


WASHINGTON — Most came to town 
and govtmmcnu but House members-eiect 
their freshman "* — * s — — 


in politics 
gathered to begin 

. f _ „ tomarvdat— 

or get accustoned to— about the ways of Washington. 

“loam tent prepared, but this is a big system,” said Comne 
Brown, Den»crat of Florida, a former stale legislator. 

But impressions of 1992 freshmen from rh«r fist group visit to 
1 Capitol HiD tended to focus on the banc Aang e* coming in their 
lives. Representative Brown said she was not ready foe the fast lanes. 
*Fjn going to uy public transportation,” she said. 

Bui, cutting aqrossregiaaal and party lines was shock at District 

' can of "Florida, described the local market as offering “hSt the; 

. square footjge fra: twice the cost." (WP) 

BgguMlagng Prtmmd for a CHnton Hopitul 

WASHINGTON — Democrats got a lot of camp aign mileage out 
of charges that President George Bush helped arm R*rM«n Hasson 
before tbg Gulf -War.- Now, sane conservative Rcpubbcans on 
Capi tolTHf are gearing up to torn this affair against a Silicon Valley, 

" California, mogul, if President-elect Bill Canton picks him for 
secretary of commerce: John Young, president and chief executive of 
Hewlett-Packard Ca in Palo Alto. 

Mr. Young's company sold computers and other equipment to 
Iraq before the 'war. Even though the Hewlett-Packard sales were 
legal, an aide to a Republican senator says that a key question would 
be pressed at any confirmation hearings for Mr. Young: Would he 
go overboard selling goods lo foreign markets without regard to the 
potential for spreading dangerous arms? (LA T) 

Quote-Unquota . ~ 

Robert B. Reach, the Harvard Univera ty professor who is heading 
President-elect Bfl] Clinton’s transition team for economic policy, 
commenting on recent statistics that the economic situation was 
improving: “We’ve had false dawns before. There’s very littlfi evi- 
dence right now that thejobs picture is improving enough to signal a. 
genuine recovery.” (Rotters) 


Inauguration Gala: 1 0 Black-Tie Balls and a Clothing Drive 


By Paul F. Horvilz 

launattoml Herald Tribune 

■ WASHINGTON — The five-day gala that will 
usher President-elect Bfl] Clinton into office next 
month will be big, bold and. above all, filled with 
symbols of popular indusiveness. 

The new president will arrive by bns from the home 
of Thomas Jefferson in the Virginia hills. Hcwfll open 
the White House for three hours to anyone wishing to 
shake his hand. Ordinary Americans who inspired Mr. 
din ton during the campaign win be honored at a 
luncheon. Food and dotting will be gathered for the 
homeless. ' 

These events are designed, in rail, to send a mes- 
sage about the kind of president Mr. Clinton intends 
to be. inaugural organizers said. They have given the 
entire affair a theme: “An American Reunion: New 
Beginnings, Renewed Hope.” 

Quincy Jones, the.muskian and producer, will orga- 
nized a festival, free concert and fireworks outside the 
Lincoln Memorial the Sunday before Mr. Clinton 
takes his oath of office. Entertainers, possibly indud- 


Away From Politics 


• The GtfBeo spacecraft wffl stake a second pass by Earth when it 
travels just 190 miles (304 kflometers) over the Southern Hemisphere 
on Dec. 8, two years to the day after the spacecraft its first pass, 
project scientists stud in los Angeles. 

• A Pennsylvania researcher reported that freezing tunon in 
tale cancer-patients can be effective in treating cases once < 
hopeless. The techni que, known as cryosurgery, has also bem 
successful with liver cancer, said Dr. Gary Qmk, an interventional 
radiologist at Alleghany General Hospital in Pittsburgh. , 

• A chunks! that appears to give dbdtetic rats insatiable appetites 
and causes obesity, as well as riles in the animals' brains where 
abnormal amounts of the chemical are produced, has been discov- 
ered by Miami researchers. Neuropeptide Y or NPY is also found in 
the human brain and the research team's leader said it is the most 
likely culprit for the appetites and obesity plaguing human diabetics. 

• Job-related dommiulfon eomphmts reached their second-highest 
annual figure since the 1964 Civil Rights Act became law, the Equal 
Employment Opportunity Commission said. It said that for. fiscal 
1992, there were 70,339 complaints filed — including, for the fi ret 
time, filings based on the new Americans with Disabilities Act- The 
record was set in fiscal 1988, with 70,749 complaints. 

• A New York City School Board has been suspended for refusing to 
adopt a multicultural curriculum that, among other things, teaches 
first-graders to respect and appreciate homosexuals. Accusing the 
board’s members of waging “a malicious and. highly organized 
campaign" to distort the cumpujumand alaaomarants? the dnancel- 

.,lotof the : city’s, schools,. Joseph A. Fernando, - appointed three 

. executives. from his staff to take over the day-to-day qpgrplicrn of 
District 24 in Queens and, with parents and teacbm,- to devise a 
curriculum that includes lessons about gay men and lesbians. 

• A Hack homeless man said he was beaten by Hash&c Jews in a 

racially torn New York neighborhood. The mao, Ralph Nimmon, 
25. told the police that a mob of 10 to 15 Hasidic Jews hurled racial 
insults and beat him with a small baseball bat behind the building in 
Crown Heights, Brooklyn, that houses the worldwide center for the 
Lubavitcber sect of Jews. Reuters. up/. ap. nyt. lat 


End Squandering? 
It’s Hard, U.S. Says 


A 


By Keith Schneider 

JVflr York Tima Service 

WASHINGTON — After years 
of effort to transfer government 
work to private companies, the 
White House has acknowledged 
that contractors are squandering 
vast sums because federal agencies 
fail to supervise how hundreds of 
billions of dollars are spent each 
year. 

In a report prepared for Richard 
G. Damian. the director of the Of- 
fice of Management and Budget 
federal auditors from the White 
House and 12 agencies said that 
irivaie companies had been paid 
or unauthorized and, at times, ille- 
gal expenses, including tickets to 
> sporting events, lavish cruises and 
excessive salaries for executives. 

The auditors said (hat even as 
■ the government vastly expanded its 
■use of private contractors to as- 
sume duties as basic as writing con- 
gressional testimony for cabinet of- 
ficers and as sweeping as cleaning 
up widespread environmental con- 
tamination produced by the mfli- 
taiy. the Reagan and Bush admin- 
istrations tried to save money by 
cutting (he staffs of the federal of- 
fices that supervise contracts. Con- 
gress approved that policy by ap- 
proving the administrations' 
budgets. 

* A top official of the Office of 
! Managem ent and Budget said the 
J report was intended to draw atten- 
tion to a basic management prob- 
lem that was wasting bflhcms of 

, dollars, though ibe exact amount is 

* not known. 

.. StiU, the sweeping assertions 
about mismanagement and specific 
reco mme ndations for fixing the 
problems also make it among the 
' most incisive critiques ever pub- 
lished by the government of a cen- 
tral philosophical tenet of the Rea- 
gan-Busb era: the idea that private 
companies can do the fedora! gov- 
ernment's work better and for less 
money. 

The White House study is the 
product of a five-month investiga- 
tion that was prompted by disclo- 
sures of mismanag ement made 
over the last year by several con- 
ssional committees and the 
I Accounting Office. 

The report is scheduled to be 
made public in a hearing Thursday 
ty Representative John D. Dingdi, 
- Democrat of Michigan, the chair- 
■i man of the House Energy and 
' Commerce Subcommittee on Over- 


sight and Investigations. Mr. Din- 
gal made an advance copy of the 
report available. 

Although opponents have ar- 
gued that many government re- 
sponsibilities are inherently unsuit- 
able for private enterprise, Ronald 
Reagan and George Bush pushed 
hard to increase government con- 
tracts to private companies. 

The government spent S210 tril- 
lion in the 1992 fiscal year on con- 
tracts for goods and services, or 
roughly one-sxtb of all govern- 
ment spending, according to the 
budget office. The percentage of 
money spent for contracts has risen 
sharply over the last decade; ac- 
cording to the budget office.. 

In several agencies, particularly 
the Department of Energy, the En- 
vironmental Protection Agency 
and the National Aeronautics and 
Space Administration, contractors 
are performing virtually all of the 
work. 

Although investigators are un- 
sure about the amount rtf money 
wasted each year, they wrote that 
there was evidence that the prob- 
lem is endemic across all the civil- 
ian agencies. In almost every in- 
stance where auditors took a dose 
look at contracts, they found prob- 
lems. 

Lockwoode Greene too, a com- 
pany that held a S38 million con- 
tract at the Energy Department’s 
Oak Ridge National Laboratory in 
Tennessee, was found by the gov- 
ernment to have spent 33.5 rndtion 
on unallowable costs tike liquor, 
travel for the spouses of employees 
and registrations for golf tourna- 
ments. 

CH2M Hill an Oregon company 
that supervises the cleanup of hun- 
dreds erf 1 , toxic waste sites for the 
EPA and more recently for the De- 
partment of Energy, billed the gov- 
ernment for parties, country chib 
fees for employees and the use of a 
corporate airplane, the auditors 
said. All of these expenses were 
prohibited, they said. 

The problem of fraudulent 
charges from the private contrac- 
tors uTfar from unique to the Bush 
and Reagan administrations. 

But the conclusions of the report 
by the White House budget office, 
the first comprehensive study of 
contracting across all the govern- 
ment's civilian, agencies, suggest 
that such heavy reliance on private 
companies can only be effective if 
the government closely supervises 
its contracts. 


;orm at 

a Revised, “American Gala” at a suburban sports 
arena. - 

But tradition and elegance will not be lost. On Jan. 
18, a holiday honoring Martin Luther King Jr„ special 
commemorative events wfll be held. A prayer service 
and congressional reception will open Inauguration 
Day. Jan. 20, before Mr. Clinton take the oath of 
office at noon Ten black-tie bafls, with 65,000 invi- 
tees, mil follow throughout the capital that evening, 
one especially for residents of Mr. Clinton's home 
state of Arkansas. 

“This inaugural is going to be an open inaugural, an 
accessible inaugural and a dignified inaugural,’* Ron 
Brown national chairman of the Democratic Party, 
said Wednesday in announcing the festivities. 

“Bill Clinton is absolutely committed to being an 
accessible president, fully in touch with the American 
people,” he sakL 

Mr. Brown said that several events would stress the 
participation erf 1 youth to “connect with" a new genera- 


tion of voters who supported Mr. Clinton, 46. and his 
running mate. Senator A! Gore. 44. 

He pointed out that the cost for all the events —less 
than £20 million, by his estimate — would be below 
that of the three most recent Republican inaugurals 
and that the 5125 ticket price for the bolls would also 
be below recent Republican balls. President Jimmy 
Carter reportedly spent less than S4 million on his 
inaugural in 1977. 

Private donations underwrite the entire affair ex- 
cept for the vast security apparatus being coordinated 
by the Washington police, the Secret Service and the 
U.S. Army. 

Eight events wfll be free to the public. The balls will 
be by invitation only. 

The inaugural organizing committee released the 
following tentative schedule: 

Sunday. Jan. 17 —Tour of Jefferson's home, Mon- 
licello. Bus trip to Washington following the route 
Jefferson took for his inaugural. Festival and concert 
on the Washington Mall 3t the Lincoln Memorial 
Fireworks. 

Monday, Jan. 18 — Reception by Mr. Clinton for 


diplomats, at Mr. Clinton’s alma mater, Georgetown 
University. American Citizens Lunch for those who 
inspired the Clintons during the campaign. Various 
inaugural dinners. Free ‘‘American Gala" televised 
from the Capital Centre in Landover, Maryland. At- 
tendees asked to bring food or clothing for the 
homeless. 

Tuesday, Jan. 19 — Luncheon for current and 
former state governors at the Library of Congress. 
“Salute to Children” and “Salute to Youth” at the 
Kennedy Center for the Performing Arts. “Presiden- 
tial Gala” at Capital Centre. 

Wednesday. Jan. 20 — Prayer service. Reception 
with congressional leaders. President George Bush 
and his wife, Barbara, receive the Clintons at the 
White House. Swearing-in Tor the new president and 
vice president at the Capitol. Inaugural address at the 
CapitoL Congressional luncheon. Parade to the White 
House. Inaugural balls. 

Thursday. Jan. 21 — Open house at the White 
House. 9 AAL to noon. Afternoon reception for 
residents of Arkansas. Evening reception for Clinton 
campaign staff. 


Critic of Campus 'PC’ 
Quits Humanities Post 


um wuwA|Bxe rcsacr-iTcsic 

President-elect KB Cfinton receiving a Navajo nig from Ibe president of tbe Navajo Nation, Peterson Zah, in little Rock. 

Clinton Trying to Enlarge f the Bubble 9 


By Michael Kelly 

Wfw York Tuna Service 

WASHINGTON — Bill On- 
ion, deter mined to have in the 
White House some measure of free- 
dom and, privacy, has begun a sys- 
tematic effon to push The edges of' 
^the bubble,” (he constricting co- 
coon of bodyguards and journalists 
that is every president's shadow. 

Since at least the days of Harry 
S. Tr uman, presidents have com- 
plained of the great sacrifice in 
movement and privacy the office 
has come to entail, and many have 
tried to do something about . it 
Mostly, they have faded, and the 
bubble has grown tighter. 

Bush lives almost completely wii 
iniL 

Mr. Clinton is bringing an un- 
usual degree of insistence to the 
fight, and has already had a mea- 
sure of success. The Secret Service 
agents have adjusted their routines 
to deal with his frequent habit of 
rushing into crowds and engaging 
in dose conversations with anyone 
who strikes his fancy. 

Now he has begun to push fur- 
ther. seeking escape from the stric- 
tures imposed by tbe system of 
White House news coverage, in 
which a president's movements in 
any public area is covered by a 
small pool of journalists. 

“I wish him well, and he proba- 
bly can expand the envelope a lit- 
tle, but the practicalities of tbe mat- 


that,” said Jody PowdJ, who was 
press secretary to Jimm y Carter, 
another president who liked to 
keep his private time private. “Peo- 
ple are going to want to cover what 
the presidenrdoes. " - 

.- So far. -Mr. 1 CHmon is tinning 
much more freely among the public 
_lhan did Ronald Reagan or does 
Mr. Bush, and has made it dear to 
the Secret Service that he intends to 
continue this after entering the 
White House. 

Bruce Lindsey, a longtime confi- 
dant of Mr. dm ton, said the Secret 
Service had already agreed to his 
insistence that he be allowed to 
make his morning runs outside the 
WhiteHouse.- 

Mr. Ointon’s method is ample: 
He does what he wants when he 
wants it, and does not lei reporters 
in. . 

. When the governor exercises in 
the YMCA in central Little Rock, 
the journalists wait outside. When 
he plays golf, they remain-in tbe 
clubhouse. 

Several weeks ago, when he de- 
cided on the spur of the moment to 
leave tbe governor's mansion in 
little Rock and -have a beer in a 
Mexican restaurant with the com- 
mentator Bill Moyers, the journal- 
ists assigned to cover his move- 
ments that night were unaware. 

“You all have been asses ever 
since we started,” Mr. Lindsey told 
reporters on Mr. Clinton's jet re- 


turning to Little Rock from Cali- 
fornia on Monday night. ”f think 
you still push up too dose. I think 
he's mlitled to some measure of 
privacy." 

. Mr. _ Lindsey said the Clinton 
transkion operation was examining 
- the question of press coverage and 
experimenting with changing the 


conventions established between 
the White House and news organi- 
zations to restrict coverage and al- 
low Mr. Clinton a greater degree of 
privacy. 

“We’re sort of playing this by 
ear,“ he^ajd. “Were going to do 
what we can lo be normal and still 
be president of tbe United Slates." 


The Associated Pros 

WASHINGTON — Lynne Che- 
ney is stepping down as chairman 
of the National Endowment for the 
Humanities, where she has been the 
Bush administration’s most vocal 
critic cf “political correctness” on 
college campuses. 

In a letter to her staff, Mrs. Che- 
ney said she would resign Jan. 20. 
when the Clinton administration 
takes office, 16 months before the 
end of her second four-year term. 

Her deputy. Celeste Colgan, mil 
serve as acting chairman until a 
successor is nominated by the in- 
coming president. 

Among ber accomplishments, 
Mrs. Cheney listed the endow- 
ment's support for the National 
Center for History in the Schools at 
the University of California at Los 
Angeles and funding for Ken 
Burns' television documentary 
“The Civil War.” 

“1 have also seen it as ray respon- 
sibility to inform the public about 
controversies on our campuses,” 
she said. 

“Ensuring that intellectual free- 
dom is protected and thrives is one 
of the most important tasks of our 
day," she said, “and I hope that the 
endowment will remain a strong 
advocate of the idea that the uni- 
versity is a place where ideas 
should dash and compete.” 

Mrs. Cheney has been an outspo- 
ken critic of liberal “political cor- 
rectness” on college campuses, 
which demands that multiculmra- 


hsm and the roles of women and 
minority groups be given equal 
weight to traditional Europe-based 
scholarship. 

She told The Washington Tunes, 
in an interview published Wednes- 
day. that “it would have been a 
different situation if Bush had 
won.” 

Her husband. Defense Secretary 
Dick Cheney, is frequently men- 
tioned os a potential Republican 
presidential candidate in 1996. 


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Page 4 


THURSDAY, DECEMBER 3, 1992 



The First Job in Somalia 


Both in the United States and at the 
United Nations, the American offer to dis- 
patch troops to bring aid to Somalia is 
being treated as an idea whose time has 
finally come. The need is so stark and the 
remedy so apparent drat discussion has 
passed from the principle of humanitarian 
intervention — that is resolved — to the 
details. It is tragic that the factors of public 
awareness and official readiness that now 
make (he intervention possible. did not 
come together sooner. Many lives might 
have been saved. But a merciful deliverance 
for many of the survivors in Somalia is 
coming into view. In just a few days the First 
American troops could get there. 

At the United Nations, deliberations con- 
tinue on whether the prospective Security 
Council- approved operation should be un- 
der UN or American command. Advocates 
of firming up the UN secretariat’s capacities 
to act oh its own, with diminishing guidance 
from member states, are making their case. 
But the best service the United States could 
render to effective internationalism is to 
make sure that this operation goes welL In 
circumstances where Americans are supply- 
ing the leadership as writ as the preponder- 
ance of forces, an American president has 
reason io keep the principal tons. 


in the Amoican view, a Somalia expedi- 
tionary force would deliver relief and sup- 
press the warlords and gangs, but would not 
undertake to establish a new administrative 
or political order. The narrower task fits 
the urgencies of the situation without com- 
mitting Washington to what could be a 
provocative, ragged, unduly costly or 
open-ended operation. He broader task is 
best w eig hed by the United Nations after 
it gets a sharper picture of Somali political 
terrain. The requisite international and 
American public and congressional sup- 
port will come most smoothly if Washing- 
ton is seen in a helping but limited role. 

As it happens, this intervention arises 
just as George Bush becomes a lame duck. 
He would like to wrap it up by inaugura- 
tion day. But of course no one can be sure. 
Bill Clinton's spokesman describes him as 
informed but not consulted, and as ’’gen- 
erally supportive." The awkwardness of 
the transition provides reason for the Bush 
administration to contain not only the 
mission but also the terms in which it is 
projected. It is enough for Mr. Bush to be 
responsible and cautious in this instance. 
Mr. Gin ion will have his own opportuni- 
ties to mull a larger role. 

— THE WASHINGTON POST. 


Assignment for Bush 


Although George Bush may be brooding 
about his defeat, rewarding work awaits 
him in his final weeks. One major priority is 
to complete a task nobly begun — disarm- 
ing the nuclear-armed republics of the for- 
mer Soviet Union. He will have powerful 
allies should he decide to finish that task. 
Senators Sam Nunn and Richard Lugar 
recently went to Moscow and Kiev to move 
the disarmament deal along. But the job 
cannot be done without the president’s 
help, and it ought not to wait until Bfll 
Clinton takes office. 

There are two objectives to meet. One is 
an agreement on deeper cuts in Russian 
and U.S. nuclear arms. The other is per- 
suading Ukraine, Kazakhstan and Belarus 
to sign the Nonproliferation Treaty and 
dismantle their weapons. 

The original START treaty would have 
reduced Russian and American warheads 
to about 7.000 apiece. But an agreanent 
reached in June would lower the ceding on 
warheads to 3,000 to 3,500 each, and ban 
multi warhead missiles on land. 

Russia has finally responded to a U.S. 
draft treaty codifying the June agreement. 
Moscow lias said it will seek changes to 
allow it to reduce the number of warheads 


on its missil es, thus avoiding the costs of 
building new single- warhead missiles and 
silos to shelter .them. Washington can af- 
ford to be accommodating if it can verify 
the changes Moscow is proposing. 

Actual disarming could be held up by 
Ukraine, which has yet to ratify the START 
treaty and sign the Nonproliferation Trea- 
ty, as it promised. It has also been threaten- 
ing to hold onto its 176 multiwarhead mis- 
siles unless it gets adequate compensation 
and some form of security guarantee. 

Senators Nunn and Lugar suggested use- 
ful ways to meet Kiev’s demands. Under 
their plan. America would foot the bin for 
(iL qnamling Ukrainian mfoaiet and pay its 
share for toe uranium extracted from war- 
heads now in Ukraine. The two senators also 
want Russia and the United States to coop- 
erate in attending reasonable security assur- 
ances to Ukraine. But they rightly warn that 
Ukraine risks political and economic isola- 
tion if it fails to cany out its nuclear pledges. 

Now it is up to President Bush to dose 
the deals with Russia and the other nuclear 
republics. He could leave no finer legacy 
than to complete the fade he has begun — 
diminishing the p 1 ^ 1 1 danger. 

— THE NEW YORK TIMES. . 


Recovery for Whom? 


It is welcome news if the American econo- 
my is finally recovering at a healthy rate, but 
not everyone is participating equally in the 
recovery. The various government gauges of 
economic activity continue to point upward, 
and merchants say the volume of holiday 
shopping is up as wdLBm for a lot of people, 
in toe lower reaches of the economy especial- 
ly, the turnaround has yet to occur. 

The Agriculture Department reported 
the other day that 26.4 million people re- 
ceived food stamps in September, a record. 
The increase of more than a half-million 
over the month before was largely the tem- 
porary reflection of hurricane and typhoon 
damage in southern Florida, Louisiana, 
Hawaii and Guam. But the food stamp rolls . 
are still up more than 2 million people over 
the year before. This purest of the govern- 
ment’s welfare programs (in that all you 
need to be to qualify is poor) now supports 
one American in 10. Caseloads are up 
sharply in the other major government as- 
sistance programs — Medicaid and Aid to 
Families with Dependent Children — as 
well. These are partly state-financed; state 
costs have gone up as a result of the reces- 
sion even as revenues continue down. 

Unemployment remains well above 7 per- 
cent; nor is the problem entirely cyclical, 
such that recovery will solve it Income in- 
equality has increased in America in the past 
15 or 20 years; the poverty rate, adjusted for 
the state of the business cycle, is also up. 


Even staunch defenders of the rest of the 
record of the past 12 years wQl concede that 
the economy is leaving too many people 
behind. The policy question is what, besides 
providing food stamps and the rest of the 
benefits that constitute toe safety net. the 
government can do. Bfll Ginton has said he 
wants to strengthen federal support for the 
waking poor particularly. They were among 
the greatest losers in the Reagan budget arts 
of the early 1980s — an irony, given sup- 
posed Republican support for the ethic of 
sdf-bdp. which such people enbody. 

The president-elect, as part of a view that 

its mlesjias embraced the notion that do 
child erf a full -time year-round worker 
should have to live in poverty. To avoid 
such an outcome, be has said, hefavonan 
increased minimum wage supplemented by 
an increase in the earned-income tax cred- 
it, a kind of negative income tax that serves 
as a federal wage supplement for the work- 
ing poor with children. Republicans have 
shown a fondness over the years for the tax 
credit as welL The problem is that an in- 
crease costs money and may not make the 
short list of Mr. Gin ton’s early goals. 

By the broadest gauge of economic ac- 
tivity, the recession may have been over 
now for a year and a hair. But the recovery 
has been weak. For too many people it is 
still an abstraction. 

— THE WASHINGTON POST. 


Other Comment 


Oik Billion Rural Poor 

Human resourcefulness is one of the 
world’s most undervalued assets; nowhere 
is that more evident than in toe plight of toe 
world’s rural poor. For nearly 40 years. 
Western nations have undertaken ambi- 
tious development programs to aid poor 
countries around toe world. In most cases, 
those programs have been designed to 
“trickle down" to those who most need 
them. AD too often, bureaucracy, corrup- 
tion and greed have gotten in toe way. 

So it should not be a surprise that a new 
report from the UN International Fund Tor 
Agricultural Development finds that de- 
spite the billions of dollars Tunneled into 
international aid programs, the number of 
rural poor around the wold continues to 
increase. About a billion people now fall 
into that category. This is not because poor 
people do not work hard. Given half a 
chance, the rural poor are eminently capa- 
ble of using their considerable energy to 
improve their lives and thereby contribute 
to the larger economy. 


As the United States enters a leaner era, 
international aid programs will face tough 
competition from domestic needs. Yet even 
modest efforts to help the rural poor can 
produce enormous benefits. Such programs 
contribute to a world that is more prosper- 
ous and. therefore, more secure. 

— The Baltimore Evening Sun. 

What Somalia Needs 

A political understanding acceptable to 
all parties remains the only basis to restore 
security and stability to Somalia. But the 
ongoing struggle necessitates an immediate 
foreign intervention to deter those who are 
stealing food and to save children, women 
and the ddcrly from starvation. Apolitical 
settlement will require a national reconriH- 
ation conference to agree on a temporary 
cabinet to prepare for a new constitution 
and general elections. It is necessary thm 
that the United Nations define the function 
of the force to be deployed, nwlrmg dear 
that it would not be biased to any party. 

— AlHayai fBrirwJ. 


INTERNATIONAL HERALD TRIBUNE 
KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 

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Troops to Somalia: A Puzzling Good Deed 


W ASHINGTON — The sudden offer by 
President George Bush to send a division 
of American soldiers to face down Somalia’s 
warlords is mysterious in its timing and logic. 
These mysteries should be cleared up before an’ 
American military intervention of that size goes 
forward in Africa. 

At one leve’, the case for intervention is dear 
— as it has been for months. Feeding starving 
Somali civilians and preventing hundreds erf 
thousands of deaths in the Horn of Africa is a 
noble, urgent purpose. The chaos and misery of 
Somalia's disintegration have defeated private 
aid organizations. 

Freed from Cold War restraints and obliga- 
tions, the American military may turn out to be 
the ideal organization for global humanitarian 
emergencies. Somalia could be a turning point in 
v toe Pentagon's search for vital new missions. It. 
could revive and give content to the idea erf an 
American-led new world order. 

Why then do I feel uneasy about the mission's 
di< p mpwtw niiH'. am, itsfuzfy rules of • 
engagement and toe lack of a doctrine that would 
describe how the proposed deployment of 20j000 
American soldiers to Somalia will defend vital 
U-S. interests abroad? Why aitpkk an American 
willingness to do something for Africans and 
save lives in the process? 

My reservations stem precisely from those two 
factors: the perceived ease of the operation, and 
the subliminal working out of guDt toward Africa 
that I lies b ehind many of the demands in 
' America Tor military intervention in Somalia. 

Neither ease nor guQt is sufficient reason for a 
nation to engage its military force abroad, during 
hostilities. Intervention should be reserved as a 
last resort, when specific national interests will 
be threatened by a failure to act President Bush 
has yet to make that case for Somalia. 

Pentagon and White House officials, in back- 
grounding reporters on (he president's surprise 
derision wn phaniw that Somalia can be done 
because it can be done. Somalia presents none of 
the Haunting challenges of Bosnia and all of the 
operational advantages of Operation Desert . 
Storm, these officials say. 

Desert Storm showcased the Pentagon’s post- 
Vietnam doctrine of Invincible Force. Instead of 
• applying minimal force and escalating General ■ 
fYiHn Powell, chairman of the Joint Chiefs of 
Staff, convinced Mr. Bush and Defense Secretary 
Dick Cheney to ama« overwhelming military 
might against Iraq and use it without reservation. 

General Powell would apply Invincible Force 
to Africa by sending a division of heavily armed, 
combat-trained American soldiers to chase teen- 
age airnnen away from relief workers in Somalia. 


By Jim Hoagland 

Mr. Bush, Mr. Cheney and General Powell 
have toils far failed to explain clearly the strate- 
gic causes and consequences of lhar chatty of 
heart on committing massive force to Somalia in 
the wake of Mr. Bush’s Nov. 3 defeat. That 
change is all the more striking because of their 
contmuing reluctance to use force to prevent 
the equally appalling humanitarian tragedy 
that is occurring in Bosnia. 

Bosnia is perceived as too complex and too 
dangerous. America and its European allies 
have been unable to agree on political goals that 
would justify the one step that would stop 
“ethnic cleansing” and the other atrocities: go- 
ing to war against Serbia. 

Somalia seems to represent the other side of 
the coin, a chance for intervention without 


military intervention as an end in itself. Political 
goals are subordinated to the likelihood of mili- 
tary “success.'’ The lure of Somalia for sane may 
be the misleading impression that intervention 
there does not involve “politics.'’ 

Bat Somalia's conflict is as much a civil war as 
is Bosnia's. Intervention musi be based on a clear 
resolve to seek political solutions to Somalia’s 
problems as well as fighting starvation. 

It was fairly easy to understand and therefore 
support Mr. Bush's derisions to fight Iraq and to 
keep U.S. ground troops out of Bosnia. But in 
Somalia, where his goals are laudable. I fail to 
understand why toe president has derided to 
commit U.S. forces now. in this manner. 

Where is the strategy? How does the proposed 
Somali operation fit into America's global re- 
sponsibilities in toe post-Coid War era? Mr. 
Bush and General Powell seed to lay toe founda- 


the coin, a chance for intervention without tion for an American deployment in Somalia by 

S tlitical goals or significant risk. But it is an explaining more dearly why they seem to be 

usion.to think that large-scale involvement in using different criteria for their nonintervention 

Africa will come that cheaply. in Bosnia. Only then can they count on the public 

War is, as Clausewitz said, (be extension of support that would make deployment to Somalia 


War is, as Clausewitz said, the extension of 
politics by other means. But General Powell's 
interpretation of Invincible Force seems to see 


t to Somalia 


the era-opening success it should be. 

The Washington Past. 


First Buy Up the Youngsters’ Guns 


By Raymond Bonner 

.XT AIROBI — Before America rolls into So- 
' Iv maiiii, because the United Nations has 
failed there, it had better understand what it is 
getting into. The warlords are little more than 
gangsters and should be quickly vanquished, but 
then what? Who is going to run Somalia? - 

It ao longer is a functioning country: It has no 
government, no tdepbone system, no infrastruc- 
ture; no police force, no banks, virtually no 
business other than war. It may be posable to re- 
create Somalia, but it will take yean. 

Does aD this mean thartoe worid must stand by 
and watch people die? No. To begin with, the 
former UN special envoy to Somalia, Mohammed 
Sahnoun, ought to be brought back immediately. 
He was dismissed by Secretary-General Butros 
Butros GfaaH after be repeatedly criticized toe 
United Nations for its lahores in Somalia. 

■ In a few months Mr. Sahnoun had made 


there is another, astonishingly simple way to 
reduce the mayhem and starvation. 

During a trip to Somalia, I asked a friend in his 
205 what the world should do. Buy toe weapons 
off the street, he said. 

The idea sounded naive: stop toe war by 
offering to buy weapons. Bui it just might work. 
The young men who are running around shoot- 
ing off gun* are not trained troops or dedicated 


That may be more than is necessary, or wise. 
Qeariy the international community needs to 
adopt stronger measures to get food to the starv- 
ing Somalis. But an American drvisioa may be 
more than is necessary, or wise. 

That large a force will make the operation a 
more unwieldy exercise than Pentagon planners 
seem to anticipate. However Spartan the support 
may have seemed to Westerners, Saudi Arabia and 
other Gulf states had enough infrastructure to 
sustain the large U.S. units deployed for Desert 
Storm. Somalia's ntins wQJ present American 
troops with a logistical and psychological ordeal. 


era tion of the nongovernmental relief organiza- 
tions. He was earning the warlords’ respect And 
he offered to be a broker between the warring 
elana, winch the United Nations had previously 
declined to do. He was even able to gel members 
of dans who had not spoken for years together 
fra a few days m the Scptoclle Islands in October 
before be was dismissed 

Then, a high-level representative must be ap- 
pointed to work with Mr. Sahnoun on a pohtical 
settlement. Jimmy Carter' the only American 
president who ever maria a state visit to sub- 
Saharan Africa, is the obvious choice, and 
George Bush and Bill Ginton together should 
agree to put him to work. 

With Mr. Sahnoun and Mr. Carter talking 
with the dan leaders about a political solution. 


guerrillas. They are not fighting for an ideology 
— for Marxism or Islam, for capitalism or free- 
dom. Some are barely as tall as the weapons they 
cany; most are teenagers. “Give them an alterna- 
tive and they wQ] take it,” said an African doctor 
who has spent considerable time in Somalia. The 
alternative might not be only money but even 
seeds and agricultural implements so that toe 
youngsters can begin farming. 

For $120, my young Somali friend said, one 
could buy an AK-47 rifle. He thought that SI0 
millj on to $15 million could buy up almost all the 
weapons in Somalia, small and large, as well as 
the ammunition. Even if it cost four or five times 
that, it would be a pretty cheap investment, given 
the potential return. 

Obviously not all weapons would be turned in, 
and some Somalis would use the money to buy 
another weapon. But any reduction in toe num- 
ber of weapons would mean a reduction in the 
number of people bring killed. And it would 
mean fewer people dying of starvation because 
there 'would be fewer weapons pointed at relief 
convoys and used in raids on food warehouses. 

Buying weapons is not a foolproof solution to 
Somalia’s misery, of course, but it should at be 
tried before troops are dispatched. If in the end 
that is the only solution, then at least there would 
be fewer guns aimed at American troops. 

The New York Times. 


a ui. s -*j»- ... 
■ r — ^ - 


For Hong Kong There Is No Return to Square One 


H ONGKONG — Governor Chris 
Patten argues that democratic 
reforms are essential for the long-term 
survival of Hong Kong’s life-style. 
China insists that the proposed 
dianys are totally unacceptable and 
must be withdrawn before any negoti- 
ations can be resumed. The challenge 
facing Gma’s Communist regime is 
how to rink toe Patten plan without 
destroying the economic prosperity of 
Hong Kong and southern Cmna . 
whim is the engine of economic 
growth in China as a whole. Contin- 
ued growth is vital bec au s e h confers 
legitimacy oo an otherwise discredited 
and ideologically bankrupt party. 

If intimidation fails to turn public 
opinion and the Legislative Council 
in Hong Kong agamst Mr. Patten's 
proposals. China will be willing to 
pay any economic price to rid itself of 
the threat from democratic ideas 
which, if unchecked, wQl bring the 
party down. In Guangdong Province, • 
Mr. Patteu is' admired and better 
known than the local g o v e rn or. With 
toe province tuned in to Hong Kong 
television, there is no doubt that his 
reforms are a mortal threat to contin- 
ued Communist control. 

Beijing calculates that not many 
people in Hong Kang are wflKog to die 
tor freedom. of the press, speech and 
association even though it is these free- 
doms, along with an independent jodi- 


By George Hicks 


riaiy and toe rule of law, that under- 
pin the colony’s market capitalian. 
Should Mr. Patten be forced by public 
opinion or defeat in the Legislative 
Council to withdraw his reform pro- 
posals, he will be finished as governor. 
Having painted himself into a comer, 
he has no way to stay on in Hong 
Kong after such a defeat 

Cynics suggest that tins is what he 
wants, because it will enable Iran to 
make a quick and honorable return to 
British politics, having told Hong 
Kong and the worid that he offered 

turned dow^^^or^tmg Kong 
there will be no return to square one. 
Mr. Patten’s successor would be a very 
lame duck and a target for constant 
humBiatkn by China. It is possible 
that Britain would be left with no 
choice but to push for an eady with- 
drawal, whatever agreements say 
about no Chinese takeover until 1997. 

Having defeated Mr. Patten and his 
proposals for political reform, Benina 
would insist an effective contra of 
Hoag Kong to root out corrupting 
ideas such as democracy. Whatever 
post-Patten arrangements were 
worked out between China and Brit- 
ain, a return to the status quo prior to 
the announcement in October of the 
planned democratic changes would 


be imposribte. Tire nervoiK business- 
men in Hong Kong who are demand- 
ing that the governor withdraw his 
proposals seem unaware that his de- 
feat would plunge tire territory into a 
new era of uncertainty. . 

. China wiD continue to wage a war 
of attrition against Mr. Patten in tire 
hope of isolation him and bringing 
about his downfall. There are many 
steps Beijing can take toraise the cost 
to Hong Kong erf keeping its reformist 
governor. The huge new airport pro- 
ject is not feasible without Chinese 
acquiescence. China, can undertime 
any project that runs beyond 1997. 

Beijing recently increased the pres- 
sure by threatening rot to honor the 
contract for developing a major con- 
tainer te rminal. It also said that any 
contracts, leases (^.agreements rati- 
fied by toe British gover nm ent with- 
out approval by China would be de- 
clared invalid after 1997. 

problems wito Tfong Kong will dis- 
appear with Mr. Patten’s defeat It is 
true that the Sir David Wilson, tire 
previous governor, was able to paper 
over differences by riving in to Chi- 
na. But tins policy had already ex- 
hausted itself. Even abject prostra- 
tion was not enough to win China’s 
agreement on the airport project. 


Confrontation Isn’t the Way Forward 


L ONDON — For the first time 
s since Britain seized Hoag Kong 
during the Opium War, tire governor 
of tbe colony has become an interna- 
tional figure, Chris Patteu, appointed 
in the spring by Prime Minister John 
Major, chalJen^d Beijing last month 
fay proposing to increase toe elected 
element in tire Hong Kong legislature. 

The Chinese gpvanmnu las reject- 
ed his proposal and threatened to 
scrap its 1984 agreement under which 
Hoag Kong is to have “a high degree 
of autonomy" for 50 years. 

' The John Declaration of 1984 en- 
visages that after Hong Kong reverts 
to China in 1997 it will be governed by 
a Bam Law under which 20 of the 60 
members of tbe Legislative Council 
will be elected, up from 18 at present. 
Thirty other seats are to be filled by 
professional groups. Mr. Patten pro- 
poses most notably to widen the vot- 
ing for the professional groups. 

Mr. Patten went to Buying in Octo- 
ber to try to overcome urinese resis- 
tance. His talks were unsuccessful. 
The Chinese insisted that his propos- 
als violated tbe Joint Dedarauou and 
tire Baric Law. Since then, Deng 
Xiaoping, China's paramount leader, 
is said by the Chinese to have given 
instructions that any measures intro- 
duced without China's consent be re- 
pudiated in 1997. 

The message was reiterated in Lon- 
don recently by Zhu Rongji, deputy 
prime minister in charge of China’s 
economic reform program: “We want 
cooperation and not confrontation. 
But no one should expect confront* 
tion to force us into concessions, and 
no oae should make any wrong judg- 
ment about tins.’* After Mr. Patten's 
proposal, Mr. Zhu said, China had to 
ask itself whether agreements with 


By Bryce Harland 

Britain should be cast to the wind. 

Mr. Patten’s proposal has received 
widespread support in Hone Kong. 
But Hong Kong is above all a com- 
mercial center, businessmen have 
great influence. Some have expressed 
reservations about what Mr. Patten's 
proposal would mean for the transi- 
tion in. 1997. In recent days tire Hang 
Seng stock index has fallen shaiply. 

Some observers in Hong Kong, and 
some elsewhere, too, aigne that Beijing 
will eventually rive way. With the 
opening up of Chma's economy, Hoag 
Koog has become so important to 
Beqing that it could not afford to 
jeopardize the colony’s prosperity, 
they maintain. This is probably one 
reason why Zhu Rongji has become 
personally involved, and' why Deng 
Xiaoping is bring quoted on the sub-, 
ject by the Chinese. Both are deeply 
committed to economic reform, but 
bo to are taking a very hard line op Mr. 
Patten’s proposal 

Under Mr. Deng's leadership, the 
Chinese have set tbor sights on eco- 
nomic growth and have achieved re- 
markable results. But, as Mr. Denghas 
made dear, economic considerations 
are not paramount far China, any 
more than for other countries. For the 
Chinese kaders,-ihe ovoridmp consd- 
eratioo is the unify of flnnp_ The 
kadertoip evidently feds that the uni- 
ty of China is at stake m tbe argument 
over Mr. Patten's proposals. 

In tbe last decade or so a dose 
economic relationship has developed 
between Hong Kong and tbe pro- 
vince to which it originally belonged. 


rate in China. In toe process, Guang- 
dong and Hoag’ Kong have come 
rw*r to merging and Guangdong has 
become increasingly in dependent vis- 
4-vis Beqing. Tbe question for Chi- 
nese leaders is not just what happens 


Hoag Kong may be 98 percent 
Chinese, but its identity, culture and 
histoiY put it in another worid to the 
hard-finers in Beijing. The extensive 
economic integration of Hoag Koag 
and southern China that has occurred 
in the last decade has created mutual 
economic interests that have ob- 
scured toe political chasm between 
the two rides. 

With its seige mentality. China has 
an ability and a willingness to hunker 
down that knows no noonal limits. 
External pressures on Beijing will not 
be effective Countries like the Untied 
States, Canada and Australia that 
have come out in support of Mx. Pat- 
tea are not willing to pay a big price to 
protect human xigits in Hong Kong, 
while die rest of Asia could not care 
less. This is a straggle that Hong Kong 
will have to fight on its own. 

Hoag Kong is ladcy to have found 
a champion in Governor Patten, but 
aD he can do is offer leadership. To 
sputa him in the hope of escaping 
Beging’s wrath wili not bring a return 
of the status quo but a rapid de facto 
takeover by China. 

Hong Kbog is in for a rough pas- 
sage. Slogans sudi as “a smooth tran- 
sition to Chinese rule" and “oae 
country, two systems” will be seen for 
what they are: empty rhetoric. Hong 
Kong aim China cofaplemmt each 
other ecanomicaUy; pobtically, cultur- 
ally and ideologically, however, they 
threaten each other’s vital interests. 

Since 1949, Britain’s role as a buff- 
er b e tw e en Hong Koag and China 
has disguised this fundamental divide 
and created tbe illusion that common 
economic interests were of para- 
mount importance. With 1997 fast 
approaching, the buffer is disappear- 
ing. Beqing and Hoag Koag are left 
staring at one another in mutual in- 


in Hoag Kpog after 1997 but what comprehension. To blame Mr. Patten 
happens in Guangdon& and in the ■ h to bl a me the messenger; 

rest of southern daina, ' 

Mr. P&tten may calculate that op- The writer, an Australian econa- 
positioD from Beijing may be bal- mist and author of books on Asia, 
anced by Support from W ashin g ton , contributed ihis comment to the Inter- 
His proposal seems likefy to get mote national Herald Tribune. 


rest of southern Quna, 

Mr. Patten may calculate that op- 
poritiou from Beijing may be bal- 
anced by support from Washington- 
His proposal seems likely to get more 
sympathy from BBZ Omtoo than it 
would have from George Bush. It 
could catalyze what looks like & sea 
change in U5. policy toward Ossa. 
With the. collapse of the. Soviet: 
Union, smite Americans fed free to 
press toe Chinese harder ou democra- 
cy and human rights. 

Where will the change lead? The 
last time the Uni ted States confront- 
ed China, after the Communists 
came to power in 1949, the two 
countries quickly got involved in the 
Korean War, and .Quna was cut off. 
from the West for 25 years. Another 
confrontation might make it earier ' 
for the leadership to- maintain Chi- . 
nese unity, but at what cost? 

Would the West — * or Japan — . 
now want to cut itsdf off from one of 


One Cheer 
For Our 
Politicians 

By Flora Lewis 

p aRJS — Recent events, including 

and toe lead-up to the French election, 
have combined to highlight tbe gener- 
al sense that politics has lost its pur- 
pose. that it is a dirty game which 
demeans participants. The distaste 
goes beyond reaction to scandals.' 
There is a tendency in many Western 
countries to characterize tbe organiza- 
tion of modern politics as a disreputa- 
ble frenzy around an empty cote. 

George WilL a conservative Ameri- 
can commentator, complains about 
“the mission gap.” the loss of “irndljc- 
tual infrastructure” that his nostalgia 
instills in political theorizing of the 
past The American television news 
producer Don Hewitt argues that toe 
only remaining “purpose of political 
parties is patronage, and that both 
the US administration and Congress 
should become “nonpartisan." 

These are strange ideas, reflecting 
toe current popular disaffection as 
well as a forgetfulness of how demo- 
cracy functions. 

The first seems to yearn for more 
ideology just *bea> at last, the terri- 
ble burden of ideology has been sited. 
The second seems to miss the inevita- 
ble similari ty that a nonpartisan state 
would develop to the one-party state 
of despicable repute. 

There are all sorts of things wrong 
unto political parlies as they exist in 
practically every democratic country. 
But that does not mean that represen- 
tative government can function with- 
out parties — except on the smallest 
scale, where everybody knows who 
everybody is. 

The idea that it is possible “to repre- 
sent all the people denies tbe very 
basis of democratic pluralism, the ac- 
ceptance and expression of difference. 
Disagreements and perception of con- 
flicting interests are inevitable, and tbe 
role of politics is to provide the means 
for decision, compromise and concili- 
ation without violence or force. 

These anti-politics advocates do not 
deny the importance of toe rale oflaw, 
essential to government by consent of 
toe governed But they neglect to con- 
sider that laws must be made. For that, 
people must find poles of coalition 
and opposition to define their views. 

True, this is easier in war (includ- 
ing Gold War), when the foe is clear. 
It remains necessary in organizing 
government to deal with the more 
oiffuse but very urgent problems of- 
poverty, jobs, health, environment, 
education, crime —all toe things that 
modern society expects government 
to help confront. 

There is no need for new theories 
to lake toe place of those wiudf have 
been discredited, no need for a- new 
intellectual blueprint The need is to 
set priorities and figure out how indi- 
viduals and toe community can com- 
bine to address the problems. 

We know what they are; we don’t 
know how best to evoke and apply 
the effort required for remedy. 

For this, toe organizing skills of> 
politics and political debate are es-' 
sentiaJ. They can be distorted, de- 
graded, used to manipulate, to raysti-' 
fy and cheat, but they cannot be. 
simply discarded without binging; 
paralysis or chaos. 

For politics to do its job, there have 
to be politicians. Not everyone wants 
to be one. Buaness has to lave manag- 
ers; not everyone wants that responsi- 
bility. The division of social labor is 
productive and unavoidable, and toe 
role of toe politician has its place. 

In modem democratic politics, it 
has become a role with many disad- 
vantages and distasteful obligations, 
involving intense scrutiny of even the; 
most intimate questions, intense criti- 
cism (and often ridicule); and a de- 
mand for endless energy and atten- 
tiveness even to trivial matters. It is 
not really surprising that good candi- 
dates are hard to find. Many people- 
are not willing to expose themselves 
to toe ordeaL 

But toe tremendous appeal of pow- 
er means that there will always be 
some who are eager. For toe best, the ■ 
attraction is the ability to accomplish' 
something useful for society. For toe; 
not so admirable, power is attractive 
for its own heady sake. 

Henry Kissinger has been quoted.' 
perhaps apocryphally, as saying that 

“nnaw ir flu lu» Da 


racy, and we get what we choose. 

Further, rival parties have proved 
to be the most intelligent, efficient 1 
way for politicians lo develop and 
practice their skills. Populism is pos- 
stole, but it almost always has 
dreadful results. 

So 1 give a cheer far politicians — 
and I would give two more if they 
would dean up their acts. • 

© Flora Lewis. 


m OUR PAGES: 100, 75 AND 50 YEARS AGO 


1892: Not Real Brans 

PARIS— A couple of years ago, Mr. 
Kennedy, a New York banka, pre- 
sented to the City of Edinburgh an 
alleged autograph copy of some po- 
ems of Robert Bums. It is now sus- 
pected that this formed partof a large 
collection of spurious wares manu- 
factured in Edinburgh by a dever 
forger. A large proportion of toe col- 
lection has, of course, gone to the 
United States. People who have 
bought “originals” of Bums’s poems 
during toe last two yean have good 


the most dynamic economies in toe . reason to fear they have made a bad 


wodd? Would it want to hefo create 
an Asian trading bloc? London and 
Washington need to taken hard look, 
at where the policies they are em- 
barking on may take them ip toe not 
so distant future. 


investmenL Letters of Carlyle, Thack- 
eray^Ootpwdl.and Mary Queen of 
Sons are among the forgeries. 


Guangdong. This relationship has contributed this comment 
given Guangdong toe highest growth national Herald T ribune. 


barking on may take then ip-- the not 1917; Americans Fisht 

so riisfltwt future. - a 

r ' '■ BRITISH FRONT —American sol- 

fhe writer, a former New Zeakatd\ diets bought shoulder lo shoulder 
high commissioner in London, is au- with , toe British troops before Cam- 
thor of “Asia-— Wfuti NexTT'He braion Friday TNov. jOJ-Tbe Ameri- 
oontriouted this comment to tite fnta-r cans woe -wonting on-rauway coo- 
ruaitmal Herald Tribune. . stnutipnand repairs when they were 


surprised by toe sudden onrush of toe 
German waves. They flung . away 
toer tools, took rifles and anmmm- 
tion from fallen soldiers and helped 
to stem toe tide. They fought hero- 
ically, and several of them feD glori- 
ously faring tiie enemy, 

1942: MrissoUni Replies ; 

LONDON — [From our. New York, 
edition:] Premier Benito Mussdini,- 
m answer to Prime Minister Chur-, 
chill’s threat to bomb Italy out of the 
war, said today [Dec. 2}: “We have, 
spent hundreds of millions of lire on- 
shelters that can resist tbe biggest' 
bombs. Churchill asks Italians, How 
long wfll this last? 1 L Mussolini an- 
swer. ‘For ever until we have achieved 
complete victory.' If i had listened to 
that hyena Roosevelt, he would have- 
thought mea ‘chump.’ ChurduII says 
my empire has gone. 1 reply that toe. 
last word has not yet beat spoken.^ 
Tbe Italian Premier assailed Roose- 
velt and took Churchill to task as one 
“intoxicated” on tobacco and liquor. 




1 




INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


OPINION 


Page 5 


U 


These Cautious Overseers 
Won’t Rebuild America 

By Robert Kxxttner 


Iffijf 1 






W ASHINGTON — The receniagns 
of US. "canonic growth only 
complicate the choices faring Bin Ob- 
ion. strengthening the hand of those who 

insist that the economy is on the mend 
and that- heroic measures are not needed. 
Tfce-reaJ challenge Taring the new admin- 
istration is the bag-term trend 
From 1945 toT973, the UJ5. economy 
grew at an annual rate of about 4 per- . 
cent Since 1973, the average has been 
closer to 23 percent. Mr. Clinton will 
need bold msoirine to restore economic 
performance to that of the glory years. 
The initial reports of candidates to 
lead his economic team are somewhat' 
deappoinimg. They fall into two'camps. 

One emphasizes the US. economy's 
structural problems: ibe failure of schools 
to prepare productive wpritere; the ineffi- 
ciencies of .banks and money markets; 
heavy reliance by technology on the mifi- 
taiy; the bias of economic institutions 
toward short-term investment; the decay- 
ing infrastructure; and America's- failures 
as an effective trading nation. 

To some extern this activist group 
blurs the usual ideological linen It in- 
cludes self-described liberals such as 
Roben Reich and Ira Magaziner. It also 
includes moderates such as the econo- 
mist Robert Shapiro, the author David 
Osborne, and even Republican support- 
ers of Mr. Clinton like Clyde Prestowi tz. 

A second group advising Mr. Clinton 
thinks the main problem afflicting the 
economy is deficit reduction. This in- 
dudes several economists associated 
with the Brookings Institution, many 
Wall Street investment bankers, ana 
centrist members of Congress. 

1 expect the more conservative group 
to wind up with the power positions at 
the Treasury Department, and the Office 
of Management and Budget. 

Two leading candidates for the top 
economic posts are Senator Lloyd Bent- 
sen of Texas as treasury secretary and 
the Brookings economist Alice Rivfin as 
director of the Office of Management 
and Budget. This does not augur wriL 
Mr. Bentsen is basically a Texas bour- 
bon. The Senate Finance Committee, 


under his chairmanship, has been a nest 

of special-interest legislation 
As Treasury secretary, Mr. Bentsen 
supposedly could help Mr. Clinton get 
budgetary compromises through Con- 
gress. But he might make those compro- 
mises eycn more difficult by loading them 
with narrow-interest tax loopholes. 

As far Mrs. Rjvlin, she represents the 
semi-permanent Washington economics 
establishment, and a rather conservative 
facet of it, at that. She is something of a 

deficit hawk and a skeptic on whether 

the structural economic issues matter. 
. During the campaign she was a vocal 
critic of Mr Clinton for his failure to 
give higher priority to deficit reduction. 

If Lloyd Bentsen and Alice Rjvlin get 
these top posts, it will signal a fairly 
traditional, incarnation of the Demo- 
cratic Party, as well as a cautious ap- 
proach to economics — and more years 
of 2 percent growth. 

Washington Pest Writers Group. 


■A V'A'J 


.’111’ 1 

■ la 


iM 


No, We Can’t Have It All; A Reality Check for Clinton 


N EW YORK — We have spent the last couple of 
years undergoing a reality check. No, rrs not 
morning in America. No, we can't have it aH Yes, 
deficits matter. Traditional values such as hard work, 
savings, education and workmanship count Indulgence, 
debt indifference and greed don't work. 

Reviving the steady improvement of Americans’ liv- 
ing standards requires more investment in everything 
that enhances long- teem productivity growth: equip- 
ment infrastructure, research and development, retzam- 


We must save more to afford this investment; such 
savings mean sacrifice, and the struggle will take at least 
a decade. BiU Clinton needs to get America saving, 
investing and growing 

The administration must es tablish tbe prin ciple, that 
the best short-term stimulus strategy must be a long- 
term economic program that also guarantees step-by- 
step deficit reduction. By winning over markets, the 
media, producers, consumers and, above aD, the voters, 
such a program will reduce long-term interest rates and 
thus stimulate short-term growth 
If the current (and zesty) recovery suffeis a relapse. 


By Peter G. Peterson 

some “front-loading” of investment outlays and incen- 
tives may be needed for the sake of short-term stimu- 
lus- But we cannot lose sight of our ultimate objective. 

If long-term numbers point toward national savings, 
productive investment and genuine deficit reduction, 
Mr. Clinton mil find it easier to create optimism; if 
they don't, a one- term presidency may follow. 

We offer Mr. Clinton this advice: Let your mantra 

disctpUn^Give the public and^^ran^nwkeis the 
sense that eftmmating tbe deficit really matters. 

Crusade for growth in world trade. Urge approval of 
the Neath American Free Trade Agreement. After com- 
mitting the nation to a pro-savings, anti-deficit tngeo- 
tory, posh the industrialized world toward lowo- interest 
rates, greater demand-side stimulus and freer trade. 

Wjtn America’s fiscal bouse in order, you can lead a 
program of coordinated global growth. You will have 
new leverage over Tokyo’s budget and trade surpluses 
and be able to help Europe surmount its growth- 




The Jews and the Japanese: j 
Some Myths to Beware Of | 


By Sheila K. Johnson 


strategy stalemate and truculence at trade talks. 

Get America's private sector investing again. Enact 
a Focused investment tax credit and a research and 
development tax credit. 

Get America's public sector building again. Propose 
an ambitious public-sector infrastructure program in 
which funds wiD go to projects that truly enhance 
productivity. Pay for tbe program with a phased-in 
gasoline tax and user fees, not more debt 

Design and fight for a cap on the yearly growth of 
federal spending. Meet such a cap by taxing welfare for 
the well-off while assuring households near the poverty 
line that their safety net will not be touched. 

Put the middle-class tax cut on the back burner for 
now. Set up bipartisan commissions now to deal with 
long-term issues that have too long been deemed un- 
touchable: comprehensive health care and entitlements. 

These are tough challenges. Bui they offer Bill Clin- 
ton a chance to be the great president of a great nation. 

The writer is chairman of The Bladcstone Group, 
investment bankers. Be contributed this comment to 
The Hew York Times. 


L OS ANGELES —In July, tbe Tokyo 
t weekly Sbukan Post published an 
article entitled. "Japanese Corporations 
Are Dogged by the Stock Manipulations 
of Jewish CaphaL” It was not the first 
time, and doubtless will not be the last, 
that anti-Semitism has been openly ex- 
pressed in Tokyo. 

Yet most Japanese would be surprised 
to hear tbemsdves called anti-Semitic, 

MEANWHILE 

particularly since they usually cannot 
tefl a Jewish foreigner from a gentile. 
Many Japanese also profess to admire 
Jews as intelligent people with business 
acumen and strong ethnic loyalties. 

As Ben-Ami Shill ony notes ruefully in 
his new book "The Jews and the Japa- 
nese,” with Japanese it is often hard to 
know where philo-Semitism leaves off 
and anti-Semitism begins. 

Mr. Shillony, a prominent Israeli pro- 
fessor of Japanese history, analyzes the 
history of contact between Jews and 
Japanese. But his book, subtitled “The 
Successful Outsiders,” also compares 
the two groups in terms of certain cul- 
tural attitudes. For example. Mr. Shil- 
lony points out that early m their histor- 
ies, both regarded themselves as “chosen 
peoples,” and. he says, the gap between 
self-image and the reality of two “not 
very impressive countries on the fringes 
of the great empires of their time 
... created among both the Japanese 
and the Jews a tension that proved to be 
highly productive.” 

Mr. Shillony, the son of a rabbi is 
insightful about similarities between Ju- 
daism and Shinto. Both “are religions 
that affirm life and shun suffering and 
death.” When it comes to Japanese atti- 
tudes toward Jews, Mr. Shillony makes a 
good case for these having been formed 
by Christian rnkw renaries , the Bible, 
“The Merchant of Venice” (the first of 
Shakespeare's plays to be translated and 
performed in Japan) and Japanese 
Christian sects. 

One of these sects, Makuya, calls fora 
return to the Hebrew origins of Chris- 


tianity, takes the Jewish menorah rather • 
than the cross as its chief symbol and , 
conducts annual pilgrimagesto Israel * 
Mr. Shillony notes that one reason ‘ 
that the idea of a common ancestry of [ 
Jews and Japanese “still fascinates segr • 
meats from both societies is that it satis- • 
ties the Jewish desire for larger numbers \ 
and the Japanese yearning for deeper ( 
roots." He dies Masanori Miyazawa’s • 
suggestion that for some Japanese, • 
“identification with the Jews is a psy- j 
cbcJogical defense against the West. At* * 
tract ed by Christian morality but threat- • 
coed bv Western culture, these Japanese J 
have attempted to identify with the, 
'original Christians.' i.t, the Jews." j 
My own, somewhat harsher, assess- : 
meni is that both Japanese and Jews — J 
as successful outsiders — suffer from a ■ 
“how-arc-we-doing" complex. Both are 1 
charmed by favorable stereotypes: for \ 
example, the notions that Jews have pro - 1 
duced more than their share of philoso- . 
phers and Nobel-winning scientists and 1 
musicians; or that Japanese are more [ 
artistic, have a belter sense of design and ■ 
are better engineers. Unfortunately, this ' 
primitive sense of bonding — of “we" j 
versus “others" — promotes not only j 
positive but also negative stereotyping, i 
It is often said that the United States is 1 
not really a “melting pot” but more of a { 
“salad bowl” where ethnic groups have i 
retained some or their cultural trails, 
through generations. Ethnic slurs and) 
jokes atxxmd. Kit awareness of their di- J 
versify also makes Americans wary of, 
being stereotyped. Americans are* 
... happy-go-lucky? Lazy? Open-heart- 1 
ed? violence-prone? War-like? Some* 
Americans, maybe. But Americans as a j 
whole resist such labels. i 

Would that Jews and Japanese also' 
were more skeptical of seff-cnaracteriza- 1 
dons. Bui if solid research and insightful j 
analysis can help dispel such myths, Mr. I 
Shillony’s book should do much good. I 

The writer is an anthropologist and i 
author of "The Japanese Through Amari- j 
can Eyes. ” She contributed this comment | 
to the Los Angeles Times. I 


LETTERS TO THE EDITOR 






The Fire Next Door 

Your recent reports on “ethnic 
deansing” in Bosnia produce a 
sense of outrage end finy. but let us 
not pretend that we haven't known 
about this all along. Anthony Lewis 
calls for action by the United States 
("Sup Tolerating the Massacre of 
Bosnia , " Opinion, Nov. 28 ) i But is it 
not rather for Europe to act? What 
good is it to have one’s mouth fuB of 
talk about a politically muted Euro- 
pean Community if no common, ac- 
tionem} be. taken when the hops? 
next door k bunting? ■* 

Many European' politicians are 
excusing this passiveness by saying 
that no country can be expected to 
send its boys into such a hornet’s 
nest, that it is easier to begin a war 
than to end it, and so on. 

But nobody wiD convince me 
that if you sent professional sol- 
diers from the EC countries, if you 
made it known that any Yugoslav 
of whatever ethnic group who is 
seen carrying an arm win be shot 
at, if maximum ahpower were used 
against military positions, if the 
country were tightly blockaded — 
the war would not be over in a jiffy. 

JACQUES DuVOISIN. 

Lyon. 

Making Monetary Sense 

The European Community has 
shed many tears over its monetary 
crisis. But tbe writing was on tire 
waD from tbe beginning. There are 

two monetary axioms one cannot 
transgress with impunity; 

• Fixed exchange rates — sub- 
stantially equivalent (o a single 
common currency — are incom- 
patible with sovereign national 
fiscal and monetary policies. 
Sooner or later inflation trends 
wiD diverge and the fixed ex- 
change rates wiD no longer hold. 

• Fixed exchange rates between 
currencies of sovereign states are 
incompatible with free capital 
movements. Since transferring cap- 
ital abroad means drawing from 
the nation’s reserves, and rince tbe 
amount of capital that can be po- 
tentially transferred abroad is 
many tunes greater than reserves, a 
run on any overvalued currency 
that is not itself a reserve currency 
cannot be resisted for long. 

A corollary to these axioms is 
that monetary union logically 
comes after — and not before — 
political union. 

PIETRO MANES. 
Milan. 

At Sea, Safely for AH 


Regarding "French Dims Find 
Life Reft, but No Sign of Plan!” 
(Nop. 26): 

There are sailors and there are 
sailors. I wasn't brought up at the 
local yacht dub. I went to a mari- 
time college in Norway, sailed for 
10 years and am qualified for an 
an li mited master mariner's certifi- 
cate; I am a professional. 

International treaties govern safe 
tranat in the world’s waterways. 
Among the laws that most influ- 
ence ihe professional altar's life at 
sea are those governing watch- 
keeping. Technology has drastical- 
ly reduced the numbers storting on- 
board vessels, but safety must still 

person masnJways be oerwateh 
and be accountable. That means 
being awake, alert, in the right 
place to see that which is bong 
watched for, and trained and 
equipped to identify and react 
toanycootingeaty. 

The routines for maintaining 
safe navigational watchkeeping on 
co mnwo^ i and professional ves- 
sels are stringent. Breaking the 
raks can result in crimina] prosecu- 


tion, imprisonment, fines, loss of 
license and major dvfl damages. 

It was. therefore, disheartening 
to read of Mike Plant’s disappear- 
ance. Hie coast guards of at least 
three Atlantic nations were in- 
volved in the search, placing lives 
and resources at ri&k. 

Once, those yachters who ven- 
tured out in open waters alone were 
considered adventurous, if not out- 
right daft Somehow, however, go- 
ing across oceans alone has become 
popular. But’ who is keeping watch 
while the solo sailor steeps, cooks, 
tigs sails, navigates or is doing oth- 
er necessaiy tad(j? . 

Y achtsm en mist not Be exempt 
from the basic rules to which pro- 
fessionals are subjected. A solo 
craft in tbe open sea, nnmonitored, 
is unseawortny. 

I wDl not bemoan the spirit that 
leads solo sailors to their boats, to 
adventure and conquest, and my 
hopes were with Mr. Plant. But I do 
bemoan the fact that professionals 
may have to venture out into the 
same risky situations to pull fool- 
hardy people out of the drink. 

ERIC SCOTT. 

Norwalk, Connecticut 


A Matter of Choice? 

Paul Ceflupica refers in his arti- 
cle, “RgnitiHem, Gay and Pro- 
Qinton” (Opinion, Nov. 13), to Vice 
Presidait Dan Quayfe’s repeated 
insistence that homosexuality is a 
"Bfestyte choice.” 

I suppose that individuals who ■ 
say of homosexuals, “He (or she) 
made the wrong choice,’' must, at 
some time, have “chosen” to be 
heterosexual instead, perhaps after 
trying tbe alternative. Otherwise, 
how could they speak with such 
assurance?. Incidentally, , Fm not 
gay. (nor are many of my friends). 

JEANETTE F. HUBER. 

Kinsale, Ireland. 

Overhead Smash 

Regarding “A TP Battles, but Few 
Ca s ua l ties” (Sporu, Nov. 21): 

As a tennis enthusiast, I found 
the article on the ATP champion- 
ships in Frankfurt frivolous and 
annoying, as wefl as strangely in- 
sulting to one player, Petr Korda. 

W.C.HAROP. 

Td Aviv. 


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Page 6 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992’ 


. ** 


A Casualty of His Old War Flag 

German Executive Steps Down Under Fire 


Compiled by Our Staff From Dispatches 

BONN — A German business executive has re- 
signed after sparking fierce criticism for hoisting the 
German imperial war flag in his yard and stirring 
memories of industrial support for Hitler. 

Karl Dersch, marketing director of Deutsche Aero- 
space, denied any affiliation with neo-Nazi 
saying he was not aware of this association with 
flag of Germany's former Imperial Navy. 

Mr. Dersch railed the flag a “favorite souvenir of 
sailors and members of the navy,” saying he had 
received it IS years ago as a gift, hung it on the mast 
and forgotten about it. 

The flag, flown by the German Navy in World War 
I. and now widely used by German neo-Nazis at 
marches and rallies, shows a black crowned eagle, 
symbol of the 19th century German Reich, against a 
black iron cross. 

The chairman of Deutsche Aerospace, JQrgen 
Schrempp, said in a statement late Tuesday that Mr. 
Dersch had informed him he would resign, saying it 
was in the best interests of both the aerospace group 
and its parent company, Germany’s biggest industrial 
group, Daimler-Benz AG. 


Mr. Schrempp said the director's resignation had 
been accepted, adding, “I respect the decision of my 
colleague, of whose fundamental democratic belief I 
am completely convinced.'' 

Mr. Dersch had helped to organize a celebration of 
the 50th anniversary of Hitler’s “wonder weapon," the 
V-2 rocket, in FeenemQnde in October. The celebra- 
tion was canceled after a storm of international 
protest 

There were these related developments as Germany 
struggled to cope with a surge in neo-Nazism: 

• A young rightist radical, arrested in the arson 
deaths of a Turkish woman and two girls, attempted 
suicide Wednesday, the chief federal prosecutor’s of- 
fice said in Karlsruhe. Hans- JQrgen FOrster, a spokes- 
man for the federal prosecutor, said that Lars Chris- 
tiansen, 1 9, who was arrested on Monday, had slashed 
a wrist, seriously injured himself, early Wednesday 
rooming. 

• In Copenhagen, the Israeli foreign minister, Shi- 
mon Peres, called on European countries to ban neo- 
Nazi groups and adopt new laws if necessary to 
combat far-right violence. 

{Reuters, AP ) 


01 : Neo-Nazis Rocking to Inflammatory 4/4 Beat 


{Continued from page 1) 
even genocide, the music and the 
bonds that play it are blamed for 
attracting disillusioned youngsters 
from all levels of society to far-right 
political causes and inciting them 
to violence against foreigners. 

The police in Britain, Germany. 
Hungary and elsewhere in Europe 
siy youths often leave the concerts 
drunk or drugged and ready to at- 
tack the fust foreigners they meet 

Originally the music was listened 
to mainly by skinheads, whose 
numbers are small Eckart Werthe- 
bacb, head of the domestic intelli- 
gence service estimated there are 
about 6.500 skinheads in Germany, 
some 4,500 of them classified as 
violent, out of a population of 80 
million. 

About 70 percent of those are 
under 20. and the youngest, known 
as “baby skins," are a born 12 Al- 
most all are still in school or have 
jobs. “They are not just dummies, 
or mentally disturbed." Mr. Werth- 
ebach said. 

But the success of the Bohse On- 
keiz’s latest recording indicates the 
groups are reaching a wider audi- 
ence by toning down their new out- 
put while not renouncing their pre- 
vious work. 

The lyrics are carefully phrased 
m> that they do not violate Germa- 
ny’s anti-Nazi laws but make the 
meanings clear. Annual sales of Oi 
music are estimated to be in the 
tens of millions of dollars world- 
wide. 

. Oi music is derivative of punk 
with some heavy metal touches. It 
began in Britain in the mid-1970s, 
pioneered by a still-active band 
called Skrew’driver. 

“It’s Britain's one export success 
of the 1980s." said Tony Robson, a' 


researcher who follows the move- 
ment for Searchlight magazine in 
London. “It is music for people 
who believe the Third Reich was 
the high point of civilization." 

The term “Oi music” plays on 
the English name for the Nazi-era 
leisure organization “Strength 
Through Joy." according to Mr. 
Robson. The first long-playing re- 
cord of neo-Nazi rock was titled 
“Strength Through OI" 

“The quality of the music is truly 
dire," Mr. Robson said. “They've 
stripped rock-and-roll of all blade 
or ethnic influences. Most of the 
bands can barely play their instru- 
ments. What’s left is about the 
crudest rock music imaginable. But 
its purpose is to incite more than 
entertain." 

“An- inflammatory effect can 
certainly be determined.” said Car- 
los Weber, a senior official in the 
Berlin state prosecutor’s office. 

Justice Minister Sabine Leutb- 
eusser-Schnarrenberger announced 
ibat the rightist bands would be a 
target in the enforcement of Ger- 
many’s new ban on neo-Nazi activ- 
ities. 

On Friday, the city of Darmstadt 
decided to ban two concerts by the 
Bohse Onkdz scheduled for mid- 
December. 

The federal Inspection Office for 
Writings Endangering Youth has 
also banned three recordings by 
StorkrafL “They were banned for 
sale to youth because they are a call 
to battle to expel foreigners from 
our country,” said Elke Monssen- 
Eng herding, who heads the office. 
“They are directed against foreign- 
ers and advocate race-hatred.” 

Mr. Petrisch, the Storicraf t sing- 
er, said. on national television, “We 
play music for Germans who think 


jespite calls from parents, teachers 
md various local and international 


German.” He said the band had 
nothing against what he called 
“strange” races and did not advo- 
cate violence. Mr. Petrisch, who 
writes the lyrics to the group's 
songs, said the band could not 
choose its fans, nor could it influ- 
ence what they draw from his lyr- 
ics. “We aren't shouting *sreg 
befl,’ ” he said. “We can.” 

Little else has been done to curb 
the spread of Oi music in Germany, 
de 
ant 

organizations. 

Despite the protests, German 
authorities recently dropped an in- 
vestigation into Rock-O-Rama Re- 
cords, a Cologne-based company 
that is the wodd's largest producer 
of Oi music compact disks, records 
and tapes. 

“The investigation has been con- 
cluded, because of lack of evi- 
dence,” a spokesman for the Co- 
logne prosecutor’s office said. 

The banning of three recordings 
is scant solace to groups that have 
been pressing Bonn to ban them 
all For the past two years, the 
Anti-Defamation League of B'riai 
B'rith has pursued the matter from 
Chancellor Helmut Kohl’s office to 
the municipal levels of Goman bu- 
reaucracy. 

“It’s astonishing to me that they 
can’t seem to find the material with 
offensive' content, when we can 
pick it up at shops here in the U.S. 
and if s all made in Germany," said 
Irwin Suall, director of ihe league’s 
fact-finding department. “The 
German authorities are certainly 
showing indifference to the worst 
kind of racism and higotry.” 

Most of the. big German depart- 
ment store chains and big 'music 
stores do not carry Oi music. 



CIA Warns Bush 
On Somali Mission 


Mm Mcok/Hk Arocuud Pita 

AyoungSomafi. AM HassanAbdL 22, wearing an American flag start, said Wednesday in Mo g^Bofni 
that “I like the deployment of LLS. troops to protect relief supples, but also to build a new Somalia.” 

Japan Won’t Send Force to Africa 

military force to ensure the delivery of aid to starving 
people in Somalia, other than to say that Japan would 
not take pan. 

- Japan enacted this year a bill allowing the dispatch 
of-its troops to join UN peacekeeping activities. 

But it has allowed the soldiers to engage only in 
nonmilitaiy tasks such as building bridges. 


Agaice Francr-Presse 

TOKYO — Japan will not participate in sending 
forces to So malia if the United Nations decides to 
move in that direction, Koichi Kaio, the chief cabinet 
secretary, said Wednesday. 

Mr. Kato declined to comment on Secretary-Gener- 
al B utros Butros GhalTs request to the UN Security 
Council on Monday to consider sending a UN-led 


By Elaine Sciolino 

,Vin- York Tirrx . i .SVr..ir 

WASHINGTON — President 
George Bush made his proposal to 
send troops to Somalia on a sliort- 
term mission to deliver food and 
restore order despite the analysis of 
the CIA that prospects for the res- 
toration of a stable Somali govern- 
ment were bleak, according to se- 
nior administration officials. 

The officials said Robert M. 
Gates, the director of Central Intel- 
ligence, and bis senior analysts 
agreed with the assessment of poli- 
cymakers and military leaders in 
the administration that in its nar- 
row definition, ihe military opera- 
tion to distribute aid could be car- 
ried out quickly. 

But senior administration offi- 
cials said Mr. Gates and his ana- 
lysts concluded that the- anarchy in 
Somalia was so sweeping, and the 
warring factions so firmly en- 
trenched. that the country would 
require long-term international in- 
volvement, such as a United Na- 
tions protectorate or even a trustee- 
ship by which a country manages a 
territory on behalf of" the United 
Nations until ir is ready for self- 
government. 

During recent briefings at the 
White House, including the Na- 
tional Security Council meeting 
last week at which Mr. Bush decid- 
ed to propose the military plan to 
the United Nations, Mr. Gates has 
said that UN involvement would 
have to be long-term, according to 
officials outside intelligence circles 
familiar with the meeting. 

Ever since Mr. Bush's plans to 
send U.S. troops to Somalia be- 


came public, the admimsmtiog 
has repeatedly said that it envisions 
no greater role for American troops 
than simply distributing aid. Senior 
officials said Tuesday that it was 
far too soon to talk about a longer- 
term UN role, and that consider- 
ation of the options has only just 
begun. 

“In contrast to the more concrete 
ideas on the initial stages, the king, 
er-term situation is still at the ex- 
ploratory stage." a senior adminis- 
tration official said. 

But the statements from this and 
other officials indicated that at - 
least the issue had been discussed 
in detail in Mr. Bush's inner coun- 
cils. 

Mr. Gates's view, which officials . 
said was shared by Brest Scow- * 
croft, national security adviser,/ 
represents one side of the debate in * 
the administration over ti*: man- 
date of an expanded peacekeeping 
force in Somalia and that coianiyj’ 
long-term future. 

Acting Secretary of Stale Law-! 
rence S. Eagleburger, in presenting 
the American plan to the United' 
Nations secretary-general, Butros, 
Butros Ghaii. Iasi week, said the* 
United Slates envisioned a dreum-" 
scribed UN period of peacekeeping J 
and a speedy turning over of civil' 
authority to the Somalis, senior of- 11 
firials said. 

Mr. Eagleburger also made clear 
that the U.S. mission was simply to 
deliver humanitarian aid to Soma- 
lia. and that the administration had 
no intention of eventually running. 4 
the country under a trusteeship ar- 
rangement. 


ASPEN: What's a Hollywood Star to Do at Christmas? 


SOMALIA: UN Nears an Accord 


(Caatmued from page 1) 

Africa or hunger in the Third 
World or, in the 1980s, warm Cen- 
tral America. 

The farther away the better. In 


Hollywood, a political issue is em- 
braced as king as one is not person- 
ally touched by it. 

As one Hollywood producer 
said, “People who have real estate 


Frankfurt Daily Backs Ban 
On Incendiary Rock Lyrics 

International Herald Tribme 

FRANKFURT — The daily Frankfurter Allgemeine Zdnmg on 
Tuesday died a proposed ban on certain neo-Nazi songs os a way of 
telling misguided youths that their artistic license had been revoked. 

“Prosecuting neo-Nazi groups as terrorist cells and the performance of 
skinhead music as a call to kQI — rather than mere evidence of the 
existence of an exotic subculture — will give the right-wing scene cause to ! 
worry," the newspaper said in a front-page editorial. 

But the newspaper also peppered its message with exasperation that 
the federal government had taken so long to .act Actions now bang 
undertaken “ate the result of a painful lemMg proc^ ^t'la^'ipuch 
too long,” it Slid. r . v. c " 


in Aspen were just freaked out at 
Barbra." 

She felt the community’s chill 
quite quickly. Within days, the mu- 
sician Don Henley, who has a home 
in Aspen, was sputtering with an- 
ger. Michael Ovitz, the most pow- 
erful agent in town, who also has a 
home in Aspen, conveyed his an- 
noyance to Ms. Streisand. By this 
week, the faxes from part-time 
Aspenites were coming in hot and 
heavy. 

So far, the dispute has not affect- 
ed plans for a big New Year’s party 
at the base of Aspen Mountain, 
held by Marvin Davis, the oil bil- 
lionaire. The super-rich are buying 
plane reservations for their body- 
guards and cooks and servants. But 
Ms. Streisand, who has often gone 
to Aspen over the holidays, is pass- 
ing up the opportunity this year. 

' "Barbra bas no plans to go any-, 
where now, her spokesman said. - 


(Continued from page 1) 

same time, the diplomats added, 
the resolution must be crafted to 
assure African governments and 
other Third World countries that 
the force is operating within the 
confines of the UN charter and is 
not a disguised form of big-power 
colonialism. 

African governments say that, 
ideally, they would like lo see the 
operation under the direct com- 
mand of the United Nations. 

Because the threat of continued 
mass starvation and bloodshed in 
Somalia is so acute, however. Afri- 
can diplomats privately concede 
that they have no choice other than 
to accept some kind of U.S.-led 
intervention. 

“The key is that the resolution 
must not be seen as merely giving a 
blank check to the United States." 
said a diplomat from an African 
country on the Security! Counql. ' 
• UN sources' said- indications 


were that the .Africans would bow 
to the realities of the situation if the 
resolution was worded in a way 
that symbolically recognizes the 
plan as a collective effort of the 
world community. 

The Bush administration has of- 
fered lo provide up to 20,000 
troops to neutralize the warring mi- 
litias that have been thwarting UN 
attempts to get food and supplies 
to more than 2 million Somalis in 
need of help. 

■ Rumblings in Congress 

Representative John P. Murtha. 
Democrat of Pennsylvania, the 
chairman of the Appropriations 
Committees defense subcommit- 
tee, criticized the UJS. plans for 
intervention. The Associated Press 
reported from Washington. 

“It is not in our national inter- 
est,” said the congressman, whose 
panel holds the purse strings over 
the military budget “I don’t think 
we have the resources.” 



Microelectronics has become 
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ways and thrived. Witness 
AEG’s made-to-order micro- 
electronics systems. In one 
market, AEG provides elec- 
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brake systems that deliver a 
critical edge to automotive 
OEMs. Which is an example 
of ways companies are using 
electronics on the road to 
excellence. With the solutions 
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AEG’s areas of activity: 

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A m umber of the Dalmter^enz Group 


^ The New Clinton Administration 
GATT Negotiations 
The European Monetary System 
Mideast Peace Prospects 
Crisis in Sarajevo 
Reform in China 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


Page 7 * 



Gaidar Warns of Russian Descent to Third World 



; / 1 • 


{ , 

y' H ' #] 

>•>* :L>" £ ^'ii- 







fedd RtMk/I]x Awodiicd r 

A gravedigger in Sarajevo, aU its cemeteries full, tunting Wednesday to a soccer field. 

Geneva Talks Set on Bosnia 

Up to 30 Foreign Ministers to Attend Dec. 16 


Compiled by Our Staff From Dispatches 

GENEVA. — Foreign ministers from up to 30 
countries will meet in Geneva this month to discuss 
the war in Bosnia. 

The one-day session, on Dec. 16, was originally 
proposed by France as a full -scale ministerial meeting 
outside the permanent United Nation s-European 
Community talks on the former Yugoslavia. 

But that idea was dropped after widespread diplo- 
matic opposition. Officials said it would now be odd 
as an expanded version of the steering committee of 
the Geneva conference, but at ministerial level 

“The primary focus of this is going to be Bosnia- 
Herzegovina, because that's where the conflict is rag- 
ing, wnenr ethnic cleansing is st£Q going an, and where 
people are suffering the rigors of winter," a conference 
spokesman said. 

UN officials said Wednesday that Sarajevo had 
come under its heaviest bombardment in weeks, and 
they reported intense combat near the airport. 

Government-controlled parts of Sarajevo were hit 
by at least 336 rounds of artillery, tank and motor Are 
on Tuesday, according to Major Jtian ViDalon, a 
spokesman for the UN peacekeeping force. UN moni- 
tors counted 14 rounds hitting Serb positions. 

ed to auenit the meeting hrGeoeva, incltajinp'a” 


representative from Islamic nations angered by the 
plight of Bosnia's Muslims. 

The agenda for the meeting, ai which Cyras R. 
Vance, the UN mediator, and Lord Owen, the EC 
mediator, wifi preside, has not been set But diplomats 
said it was expected to concentrate on ways to curb- 
what was increasingly seen as unacceptable aggression 
by the Serbs; who have swept through Muslim and 
Croat regions across Bosnia. 

A British official in London denied military options, 
would be on the agenda in Geneva, although he did 
not rule out such action as a longer-term option. 

In Paris, the consultative assembly -of the Western 
European Union recommended that the nine- nation 
defense grouping consider intervention in Bosnia. 

The assembly said plans should be studied “for a 
European intervention to relieve the Sarajevo region, 
liberate prison camps and put an end to the poticy of 
occupation and ethnic cleansing pursued by Serbs in 
Bosma-Herzegovina.” 

But in Jidda. Saudi Arabia, .Weston envoys poured 
cold water on Muslim hopes of UN military, 
intervention. 

“At this point 1 do not see that there is a chance of 
tiring military force,'' Mr. Vance said after a long 
meeting with foreign ministers of the 50-member Is- 
kopcCbufereoce Organization. . ' - . . (ReuterSrAP) 


By Celestbe Bohfen 

New York Times Service 

• MOSCOW — With his job on 
tine and his program under attack. 
Acting Prime Minister ' Yegor T.. 
Gaidar told a hostile legislature on 
Wednesday that Russia must stop . 
inflation and runaway spending or 
else the face the fate of the under- 
developed Third World: 

Me. Gaidar, whose free-markei 
policies are the focus oF the Con- 
gress of People's Deputies session, 
gave little ground to critics whom - 
he accused of indulging in “the 
economics of populism” and of ig- 
noring the Hunger* of an inflation 
rate that is now rising at 25 percent 
amonth. 

- “It is very easy to skid toward the 
road of underdevelopment” said 
Mr, Gaidar, a 36-year-old econo- 
mist “To achieve this, one doesn't 
even have to oppose reforms. One 


simply has to slow down 1 changes 
which can help us form a normal 
market infrastructure.” 

Mr. Gaidar's defense of his own 
program was at tunes jeered by the 
deputies to the Congress, the awn- 
try’s highest legislative body, which 
is meeting to review the govern- 
ment and its policies. 

Judging from the reaction in the 
hallways, his speech did little to 
change the minds of those who 
think his economic policies have 
been ruinous for the country and 
exceedingly painful for its people. 

“Mr. Gaidar has shown us again 
that he is great orator and a great 
analyst, but that is not what is nec- 
essary to lead the government," 
said Yevgeni A. Ambartsumov, 
chairman of Russian Parliament's 
International Relations Commit- 
tee. 

“There was not one won! about 


the situation of the ordinary citi- 
zen," he added. “Why did he not 
address our old people, who are 
now dependent on handouts from 
abroad?" 

During the course of the Con- 
gress, likely to continue for 10 days, 
President Boris N. Ydtsin is ex- 
pected to seek confirmation for Mr. 
Gaidar's nomination as prime min- 
ister. According to a popular guess- 
ing game in the corridors of the 
Kremlin, Mr. Gaidar would get the 
support of the majority of the 
1,040-odd member body only if he 
and Mr. Yeltsin are wfllmg to make 
further concessions — either in 
their economic program, or in the 
cabinet. 

The changes in the government 
will home on the Congress’s han- 
dling of a proposed law ou the 
government, which is expected to 
be voted on this week by the stand- 


On Guard Over Nationalism, 
Germany Approves EC Union 


By Stephen Kinzer 

_ New York Tunes Service 

BERLIN — Members of the German parliament, 
warning that increased racial violence here reflects the 
danger of resurgent nationalism, voted overwhelming- 
ly Wednesday to approve the Treaty of European 
Union. 

Germany became the ninth nation to ratify the 
treaty, which was signed in the Dutch town of Maas- 
tricht a yep ago. Portugal is expected to ratify it next 
week, leaving only Denmark and Britain stQJ to debate 
their decisions. 

“We need European union because individual states 
are no longer able to resolve the political economic 
and social challenges we face," Foreign Minister 
Klaus Kinkel told a receptive but tmenthuriastic par- 
liament. ‘The era of exrausively national politics is 
oyer, even and especially in Europe. Only together do 
we have a future.” 

Mr. Kinkel said 060080/3 strong vote for the 
treaty would be “a dear signal to the other member 
states that we take European unification seriously, and 
that we want no return to the bad old days of national- 
ism, struggles for hegemony and balance-of-power 
politics." 

Under the Maastricht treaty, the-Europeau Com- 
munity aims to criminate most economic and political 
barriers among membo- nations, adopt a angle cur- 
rency, and forge common policies on foreign affairs, 
Hefenp- and immig ration 

Of the 568 members of the Bundestag who voted in 
Bonn on Wednesday, 543 voted in favor or ratifica- 
tion. Their mandate dears the way for a series of legal 
and constitutional changes that Germany must make 
in order to conform to the treaty. 

La terthis month, the upper house of parliament, the 
Bundesrat, must also approve the treaty, but that vote 
is considered a formality. 

Since the treaty was signed in Febniary.unease 
about its sweeping provisions has spread through 
several member nations. Danish voters rejected the 
treaty in a June referendum, and three months later 
French voters approved it by only 51 to 49 paced! 

■' Denmark is planning a .second referendum, ‘sched- 
uled for May. In Britain, 1 where Parliament will make ' 


the final decision. Prime Minister John Major is press- 
ing for ratification in the face of strong dissent m his 
- Conservative Party. 

The debate in Bonn on Wednesday showed that aJJ 
of Germany’s major political parties approve of the 
Maastricht process. Even many of those who voted for 
the treaty, however, also criticized it. 

Chancellor Helmut Kohl said he wished the treaty 
had been written “quite differently." The first opposi- 
tion speaker. Hddemarie Wieczordc-ZeuLdescnbed it 
as “very short on democracy.” 

“We have lost our dream of Europe and gotten 
Maastricht instead," lamented Gerd Poppe, a former 
dissident in East Germany. 

All of these speakers, however, said that although 
they recognized flaws in the treaty, they approved of 
its underlying principles. 

“Someone who is against Maastricht is not neces- 
sarily against Europe," Mr. Poppe said. “But the. 
opposite proposition, that anyone who favors Europe 
must favor Maastricht, is undoubtedly true." 

Many advocates of the treaty refereed to German 
history, saying it had given Germans the responsibility 
of supporting all moves against nationalism and 
intolerance. 

“At a historic moment, one cannot say 'Not this 
way’ or ‘Not now."* said Gamer Verheugen, a leader 
of the opposition Social Democratic Party. “This vote 
is about whether European union will fail in Germany, 
or because of Germany.” 

The only party that opposed the treaty was the 
Democratic Socialists, successors of the Communists 
who ruled East Germany for more than 40 years. Hans 
Modrow, a former East German prime minister, said i 
that many Europeans feared the treaty would “dis- 
mantle their democratic rights, worsen their social 
situation, and destroy their cultural identity." 

But Chancellor Kohl assured Germans that the 
adoption of a single European currency would not 
endanger the monetary stability they have enjoyed in 
recent decades as a result of the Bundesbank’s anti- 
inflation potities. 

“Oniy those countries with the will and ability to 
adhere to policies of strict stability will be able to join 
the currency union," be said 


ing parliament. But the law, al- 
ready vetoed by Mr. Yeltsin be- 
cause of the limits it would place on 
his ability to name his own govern- 
ment, requires changes in the Rus- 
sian Constitution. 

The various players have been 
staking out their positions from the 
podium for the battles to come. On 
Tuesday, Ruslan I. Khasbulaiov, 
the chairman of the parliament, de- 
livered a stinging critique of the 
Gaidar government. Wanting their 
policies for a “catastrophic decline 
in living standards." 

But Mr. Gaidar in turn mocked 
Mr. Khasbulatov's claim that the 
government was following an 
“American," or more f nee- mark et- 
oriemed. model of development, 
compared to a Scandinavian mod- 
el, preferred by the Congress, 
which favors a stronger role for the 
state sector. 


Gennaa Minister 
Wants Army Unit 
With the Dutch 

Comptkd by Our Staff From Dispatches 

BONN — Defease Minister 
Volker Rfihe wants to set up a joint 
German-Dutch army corps that 
would be directly under NATO 
command and independent of the 
French-German Eurocorps, Ger- 
man officials said Wednesday. 

The 40.000-man corps would 
comprise two German units and 
one Dutch unit, they said. Mr, 
RQbe has also suggested some na- 
val and air cooperation, they said. 

The joint force will be complete- 
ly “separate” from the seven- 
momh-old Eurocorps, an official 
said. He said the proposed corps 
would be one of a number of “mul- 
tinational structures” intended to 
replace NATO's Cold War struc- 
ture. which had largely static forces 
deployed in Germany. 


Unless Russia achieves some 
form or financial stability and put5j 
an end to political squabbling, Mr. 
Gaidar said. ‘Then we will develop 
not according to the American or 
Swedish pattern but according to 
African or Latin American pat-i 
terns." 

Mr. Gaidar admitted that he and ■= 
his government had made mistakes 
in the last 11 months. < 

“We failed to take into account 
the speed with which the crisis! - 
worsened." he said. A backlog of 
internal debts, and a cash crisis 
early last summer should have been., 
foreseen, and perhaps averted, he' 
said, and export and investment 
policies should have been better, 
coordinated. >' 

But he rejected the idea that 1992; ' 
has been a year of economic failure., 
for Russia/Last winter, he remind- 
ed the legislators, there was talk off 
complete collapse. “Nothing of this' 
sort happened.” he said, “there is . 
no threat of hunger and cold. Wer 
have competed this very hard peri- 
od of adaptation to the reforms 
without major social disasters.” 

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172-1011 

078-11-0010 

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CITY FILES 


Monaco 


Lausanne 


Country code: 33 

Emergency 93 15 30 15/1 7 f police) 

Medical assistance: 93 30 19 45/18 

US. Consulate ( Nice ): 93888955 

Tourist Office: 93 308701 

Centre de Cbngres: 93 50 93 00 

Union des Commerfants et de$ Artisans de 

Monaco: 92 05 74 15 

Customs: Monaco's agreements uitb France 
are such that there are no customs 
formalities involved in entering the 
principality. 

Currency: $1 equals 5.4 Monegasque or 
French francs. 

B Neighborhoods: Monaco, a 
principality of 108 square miles 
(195 hectares), extends along the 
Mediterranean 9 miles (14 
kilometers) east of Nice. Monaco 
VUle, or ‘The Rock "is the headland on which 
the old town is heated, including the Palace, 
the Cathedral and the Oceanographic 
Museum. Just to the west is la Condamine, 
uitb its natural harbor. Beyond is Monte 
Carh, famed Jbr its casino and the site of the 
Congress Center. Fontvieille, east of Monaco 
VUle, is home to light industries and the Louis 
H Stadium. 


Countn and city codes. 41 21 

Emergency: 117 

Medical assistance: 144 

U.S. Consulate (General: (022) ~38 76 15 

Tourist Office: 61 7 1427 

Congress Center (Palais de Beaulieu): 

6432111 

Local Chamber of Commerce. 617 ~2 91 
Customs: Msitors may import items intended 
for personal use and other noncommercial 
items up to a ntlue of 100 Suiss francs, or 50 
Swiss francs for those travelers who are 
under the age of 17. 

Currency: SI equals 1.4 Suiss francs 

Neighborhoods. The second-largest 
city on Lake Genera. Lausanne & 
the capital of the Vaud canton. 
Built on seivrul bills, it rises more 
than 390 feet from the lakeside 
suburb of Ouchy. its port. The old town is 
largely a pedestrian sector, and features the 
13th-century Catbedrule de Notre-Diune and 
the Chateau Saint-Moire, begun in the l4tb 
century. The 17th-century Town Hall 
dominates La Palud square, where figures 
Jrom Lausanne 's history appear eivr? hour on 
the clock. Near Ouchy are Vidv. with boat 
moorings, and a park and bird sanctuary. 


€ CALENDAR 


Monaco 

Lausanne 

Monaco 

Lausanne 

Monaco 

Lausanne 


January 21-28: Msi Monte Carlo Automobile Rally 
January 26: Schubert-Schumann Concern*, “Trio* ibr piano and strings.' 
Casino de Montbenon, Salle Paderewski. Tel. 23 83 87/20 26 35 
January 27-29: 1MAGINA. Monte Carlo Forum on New Images, Centre 
de Cong&s. Tel. 93 50 93 00 

January 28-February * AGRAMA, Swiss Fair nf Agricultural Machinery, 
Palais de Beaulieu. Tel. 643 21 1 1 

January 28-Febrl'ary 4: 17th International Circus Festival of Monte 
Carlo, Esplanade de Fontvieille. Tel. 93 25 18 08 
February 17-21 CAMPING + CARAVAN1NG, Specialized Exhibition on 
Caravans and Camping, Motorcycles and Bicycles. Palais de Beaulieu. 
Tel. 643 2111 


To order an AT&T USADirect Service wallet 
card, call 1 800 874-MlKl. Ext. 321. If you are 
calling from outside the U.5.. use ATST USA- 
Direct Service and call 412 55>7*58. Ext. 921. 
collect. This number cannot he used in place 
USADirect calls. 











t* ■ 




INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


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awes need reuMon. CV aid refer- 
ences awdabie. Fax in Baaelana 34- 

3-23549-15 a USA 1-7D7ftS23259 At- 

taaon: Ban Horvrtz 

NTL TRADE ECONOMIST Expmena 

Eotr/WM Lxape, IE, mrabrtrg/m- 
swftnem prom o n a v seeks mil sales ar 

“rtegmert pautan, fkient Eusuan, 
C»en. Engfth, German, French, 

iratoar Td|,te 

SMB ft MARKETING EXECUTIVE 
MBA. 33. item Engfah. French. Sjxm- 
ah. Ganna V reas experience m 
ft servos niulni. Seeks 
, n Europe'Mafle 6 bc 

695158. 

MULTI-LINGUAL AMERICAN 
koswi mauger, 36, 5 jrMn expen- 
eaee m Japan, seeks new area 
opporiwiiy. wwng to retoede. Con- 
tod- AJemfar. Tek 305-532-0522, 

Fme 305374-2868 USA 

WISH MAN LOOKING FOR A JOB, 
fan yeas t apm eoce in Wl buenets 
rnanagenienJ. languages: EtqRsH. 
headk Arabe. Cal Mr. Tom eiTDris 
lU 48 86 36 11- 

general positions 

AVAILABLE 


JJWOR PARMASED TRANSLATION 

^ mft good warfarocemag ildfa. 
Oner b nngn an oswt. rgnmotnt. 
rftswc pwhon. SC nohonai a 
**“ Km ' a T forward 

'fcffc**** WM 

92180 Boelogne Memei 

ovoseas rosmoffi Hwyil 

^sas’ss^sss 

Semen. Dept HT, 125$ Uwd BMJ.. 
Sole 208. Ml. Rayd, Quebec, Gxwdo 
H3P ?T1 Fo«- |5)W0795 


GENERAL POSITIONS 
AVAILABLE 

NATURAL RESOUKE 
POUCY ADVtSOt 
fer 30-nwJh podhon in 
eio. Master's dsgnse (FhD. pre- 
ferred) m nceurd reourees/ toreB pokey 
and □ nsnmun oi 3 yen pruhnonol 
■xpetienoe it poky and research isms 
m devdopng countries (preferaUy SL 
AmL Must have good idemriond 
proven dAyr-la work wel wilb 
lean members and lennr affiodL 
Knowledge of fed o neBan gov er nme nt 
rystem and afaftty to specA Bohasn 
indonnan desndne. POsnan based in 
JJuJu Start date on or djiia 
January 1993. hose send fuO curncu- 
kro <ntoe with references and tefary 
festory K* ARD/SD/KF/DR P.O. Bax 
1397. Bwknmn Vstrart 05402 USA, 
ar FAX 80245&4OT. 


WATS RBOUIKX 
, . 5KTO* SPECIALISTS 
sought by comdhng hm for short and 
tong-issm warkhwtr caa tf wwte Must 
bore at tens MSc fftiJD. prefened) «i 
reso urce refaied ffaldAt lew 5 
JW> s erf rtenwhonai prohoord 
experience m irngoian fmus an sad 
soofa and on fare water 

S? EStLrtfc in 

™ m i njoroiogy. job fl 
tdermficahon, project der 
xiffemmiMiun aha dewed. 

Spansh language eepoMly needed as 
wel tn other ftaai languam copoM- 
*y. Ptease send fuTC-V. with references 
to RM/DS, P.O. Bax 1397. Baboon, 

£rmortJK4(JZ USA, or send FM to 

8026584247. 


LAWS ft GBOTIEMBI worldwide 
to execute erxurad* weh Iddm 
ewepnses fa menbenhip ft recoin 


Safas Mpenana a 

bob. Contocl! Saviee , _ 

Code Offamanque S Coraulare, We- 
hntdersir. 381. OiftQS 6 Zurich. Fat 
j<l + 1] n 7108, W (41 -t-1) 371 4957 

MUSS BASED MBXCAL TRANSLATE* 
seeks native English speaker with goad 
boned degree an Yw n fcxooa i ng 
sldQs. Tel {1] 40 51 06 56 


GENERAL POSITIONS 
WANTED 


GENStAL MANAGER ; 

wilh successful comrreroal experience in. 

Afnc a seeks Europe base d oppartunfriw 
m enmrt managemecl. Alternctwe 

Africa based poswre also axntoared. 

la me coremxm to jow su e™ in 

Africa (lease reply to Bw 3401 JLHT, 
63 long Acre, Undoa WC2E 9Af 

ITALIAN GHB, 29. Engfah/StrateV 
French with ex penenae in tec nvaJ 
documereakon soda pasidon os ftnw- 
tear or xtoepretor a seaetory in 
Spain, US, Canada a Auffrdo- wntv 
Ke Am a Ccrtuv, via C Pavese 15, 
10135 Totino, Bdy 

TUNSLATOUNTBFItEIB-edtor n 
EngWi. Spanah. ferftei aw**fa of 
short nahee. BegHered with Tnbcmof 
tk bxsa Fax or t el ephone Rone {39- 

81 50914743 

,34 fkient Spew*, IMfan. 

foncaond French, sane Greek, seek 


irted oxperieme. 

On request Fat +41-21/ 

253590 ■ M- Stock- 

R»KH LAST, 28. emwrwwl, atlrac- 
M air hesfatt seeks jab as esww*. 
Free to twA Td Ptrisl-43 80 Z365 

EDUCATIONAL 
POSfnONS AVAILABLE 


OPERATIONS 

DIRECTOR 

Director vwfl be- respatrahte fer 
aperadan of a UJL umenrfy n anipe. 
Suxnsfef oarfdtdB *3 possess a 
FhD a equnden! and 5+ yeas 
experience *1 ai edwaSan-seBug wdh - 
an adult popukrtion. A betmss 
nunaaaneM badvowd of 5+ ywn 
regwedL Germcrt aid Engfah fafflun* 
dXfwbat end wnHenJ aba 
other language tUl benefroat • 

Ler^Jh of osngnrwtt a rrirvnini of two 
Byean. PosnioiT doses ee Jonuay 1, 
1993 O' at sd tehav To oafo. send 
aaw falter and resume, tedaifeg satey 
mb. tor Hedy Bat 5343 .. 1 M.T-. 

1 A*t 86 r[ NV, NY 1 0022 ■ 


Place Your CkasiM Ad Quiddy and Eastty 


infhri 

MTBINATIONAL HOAID TRIBUM 

HEADOmCE 

NORTH AMRVCJL 

Paris: (For JumTiod onfyt 

New Yarta (212) 752 3890.., 

. (1)4437.9185. 

Txj 427 175. Frau 755878ft 

EUROPE 

FAR EAST 

Landau (71) -836-4802. 

Hong Keep 861 0616. 


EUROPEAN 

TOPICS 

Welcome, Prague, 

To the Wild West 

Crime has more than doubled 
in Prague and the Czech republic 
since Communist rule ended 
three years ago, the police say. 

“In the First 10 months of this 
year, the overall number of 
crimes totaled 277,000, compared 
with 102,000 in the same period 
in 1989,” a police spokesman 
said. 

In many of Prague's baroque 
churches, visited by thousands of 
tourists annually, large signs 
warn about pickpockets. Foreign 
cars are a favorite target largely 
of foreign gangs —the police say 
mane porous borders have al- 
lowed thieves to come' in from 
Poland, Bulgaria, Yugoslavia and 
even Russia. 

Theft accounts for 82 percent 
of Plague's total crime, and vio- 
lent crime remains relatively low. 

Around Earope 

In Paris, the Lyc£e Voltaire be- 
came the capital's first high 
school to install a condom dis- 
penser, five months after the 
Education Ministry encouraged 
public schools to do so. The ma- 
chine, placed in a hallway next to 
a soft-drink dispenser, was un- 
veiled m a ceremony this week 
attended by the culture minister, 
Jack Lang. 

The principal of a Versailles 
school where a distributor was 
installed earlier says the machine 
there gets few takers. Students, he 
told Le Figaro newspaper, don't 
think AIDS concerns them. 
“Contnuy t0 the general notion," 
he added, "most of them are 
faithful." 

Principals who have resisted 
putting in dispensers say they 
’‘don't want tp give students 
ideas," or protest that “we really 
have other things to think about" 

France is the West European 
country hardest hit by AIDS; 
14,000 people have died of it 
there. Condom machin es are used 
in schools in some other Earope- 
an countries- 



Pltur 


Ran BcBAieree Fu 

ACCESS TO THE ROYAL EAR —Tire Prince of Wales, pretending to whisper in the ear of a 
new fife-size bronze bust of hims elf in London. With him was the work's sculptor, Rudy Wefler. 


British public restrooms get 
igh praise in a letter to the editor 
of the Frankfurter AUgemeine 
Zeitung Not only are they invari- 
ably clean, writes Gtsela Schwin- 
dlmg-Manderscfaeid, but they are 
free. “In this respect," she adds, 
“not only our Germany but all 
the other European countries are 
developing nations" 

Since Sweden nude it a crime 
in 1966 for parents to beat their 
children, similar laws have been 
passed by Finland. Denmark, 
Norway and Austria. Germany’s 
justice minister hopes to outlaw 
such punishment by 1994, and 
Scotland may toughen its laws on 
parental beatings. Bulbas the law 
made a difference in Sweden? 
“You never see parents smack 
their children in public here as 
rou do in countries like England, 
France or Germany," Lisa HcO- 


strom, head of the Swedish sec- 
tion of Save the Children, told 
The Independent of London. 
Whether less violence goes on in 
private is “almost .impossible to 
prove," says Barbro Hindberg. a 
stale sociologist But “we're see- 
ing a lot fewer cases of serious 
abuse." 

Signs of greater times: Lichen 
is returning to the trees of Paris, 
to the joy of environmentalists. 
Lichen plants essentially are 
composed of a fungus and an alga 
living in a symbiotic relationship: 
considered excellent bioindica- 
tors, they die when the level of 
airborne pollutants is too high. 
. . . The biggest Swiss aiipoit, Zu- 
rich-KJoten. will save airlines 12 
million liters of kerosene a year 
by making it possible for planes 
at boarding gates to plug into a 
central electrical system instead 


j of using on-board power for in- 
I slrumenis. air-eondiiioning and 
lighting The comp 3 ™® 8, will save 
money, ihe airport will make a 
profit on electricity fees and pol- 
lution will be reduced. 

“Piste Angels" will patrol the 
slopes of some Tyrolean resorts 
this year to spot reckless or obvi- 
ously drunken skiers and per- 
suade them, as gently as possible, 
to take a break. Nearly half of all 
ski accidents involve collisions 
between skiers. 

Radio Vatican, breaking a long- 
time taboo, plans to cany com- 
mercials for the first time. But 
only “cultural" advertisements 
will be allowed — plugs for medi- 
cines, luxury goods and weapon- 
ry are strictly forbidden. 

Brian Knowhon 


INTERNATIONAL CLASSIFIED 


PERSONALS 


MAY THE SACRH) HEART OF JERK 
be adored, donffadL bred and 
■reed Itvaughad tlw vmrld, now cnJ 
farmer. Sacred Heart at Jeu pray 
Bor us. SodiI Jud*, worker al nxrodes. 
pro? fer «►. Sort Jude, Mp al fee 
nepefa to . pro)' fer ul Ainan. Say feu 
L proper line tone a day, by die rxnfe 
day your prayer wit n a u wered. It 
ha iWB--beon known lo Jad. ffebt 
errfion awt be praneed. MS7TT. 


SnaTUAL'CONStanNO a» a ban 
far decnion far n a . 

group* ond rdvees. Piece# write 
Brother Samd, H de Cbppaz 4, 1052 
L# Mont t/lauwane, Switarfand 


THANK YOU SAMT JUDE 
for al prayer: onwrad 
N.W. 


THANK YOU 5ACRB) MART of Jesus 
and Soini Jude far prayer: anwared 
5M 


SACRH) HEART OF JERK and Sa it 
Jade. Thanh fix prayer: anweredL 
OWHP. 


ANNOUNCEMENTS 


HE HT IS NOW 
AVAILABLE IN MANY 
U.S. OIK ON DATE 
OF ISSUE 

Now printed by Kddte Jr a nan ew on in 
New York tlw knemctiond Herald 
THbuM b or dipped ftr dayrrf- 
pufcfiadmn defiwry to raw home a 
office w map areas of the Mowing 

CAM: 

Marta, Boston, Oucag& ' Denw, 
Defrcxt, Hurton. Los Angefah /Vtane, 
New York, ftxJaWpNa. SanFranciico 
and Wadwgtan D.C 

Far Weedy mad (fatvery. atoicnp6on 
apn ete a we Hewn ifcredJy to 
Jodoonnh, Phoooix ond Seotlfa. 

In tfw UJ5A, ooB ■ 
TOLL FREE 
1-800-882-2884 

bt New York , cod 

(2121 752-3890 

or write/fax 

850 Herd Averw 
New Ywk MY. 10022 
Tete* 427 175 
Foe (212)7558785 


THE 

A MERICAN UNIVERS ITY 
OF PARIS 


STUMS N wn BUSHESS 

AND BC LAW 

RB IMORMM1CN SBSKMS 

No toed to cron fee Marix to Van 
iife rtw fo icl lead ironing ‘mode ii die 
USA* The ImJSrte Tor ftxdegd 
Stedfai oftere a 4 avxah day ar 7 


tr o fa in g course n fatT Buanes wel 
Low, tough m fogfah. Graduates 
raceme a paralegal certificate and 
eapfayaent placemen! asatanc* 
Can 1-45J1M5B to reserve a pfece 
□I a free xrfemw oon Hnon an 
Die 10 et 18h30 or Dec 12 at HMD 
at 147. he de Grendfc Pin 75007. 


THE 

AMERICAN' UNIVERSIT Y 
OF PARIS 


NawkMieSmbpnpme 
foe a mw caver 

Teaching English 

Enrol in fee TECH. Certificate Program 
[Teodiiig Engfah » Speakers of Ofeer 
Ungmeg. rarMw* ewwg doses 

ofaecsves win snanr of artaany. 
at a free hfarnatian Sessan Thun, 
fcc. 3 or Wed. Dec. 9aMBi3tt Cal to 
imeree a place Td (33/1) 4 ? 20 44 W. 


ffiUHQ M — faring jreUwfJ 
SOS HBJ> ante b &rfdv. 3 aje.- 
llpjaTel:ftnm47a5iaO. 


AUOHOUCS ANQ WYMCtS. | 

Mu $ es^WjHZsk cm. 


aench Cooking teachs vwdi 

wdntt coobn lenam far Engibh 
hsora. rara T-4&W 7292 aber 


DUTY FREE SHOPS 


FR€DDY 

htevAy renovated dap « heal «rf fee. 
Came in ft buy oi your perfumes ft 
<pfe “Duty Free a SAVNGS OF 40*. 
Two afeda from the "Opera", 
-next to the Ameriaxi boxers Bant . 
HH GUT wdh Ufa ad Marrtfa, Mc30 
10 me Auber, Pnrti 9, Metro Opera. 


MOVING 



\ am. 

? jfaavMo 

A.G5. ICND0NJ44-6I| 961 7995 
A.&S.PABSO3tlj«®20 40 
A-GlS. BaumM429 28 65 
A.GJL NKE P3J n 64 59 40 


HOMBHP. W ft marfium moves, 
baggage, an noridMcfa. CcA ChaHte 
Para m 42 81 18 81 l°«x Opera). 


REAL ESTATE 
PCHRSALE 


PAMS ft SUBURBS 


LA com 

BEAUHARNAB 

RUE DE UUE 

Safandkl renovatiom 
in the heat of FbgSL Haaore 

4 ntEsnaous APARTHBITS 
Grauid floor 183 kjjh. on patio garden 
ite Boa 143 squs. ■ < roars 
2nd (fear 143 igjiL - 4 room 
3/4 floor 298 nm. • duplex 
PANORAMIC IBtlA&E 

If date fiMngi 

Apence VANEAiJ, 

25 rot Vanoau, Pare 7fe 
-Tit 1455i4&63 
ftw 1-45564*279 


REAL ESTATE 
FOR SALE 


PARIS ft SUBURBS 


PARIS (Mb) 

SAMTGBW^ldESPRB 

Rue I tepMn i (near) 

Orejer Belli and chowter aponment 
3 roorra. perfea comthav oten, 

■ bafe,todrtLneweqwppedldchen. 
ItoBOe far professorial use 

Tati Pais 1 33-1) 44 38 6 S 59 


FRENCH PROVINCES 


VHJL£FRANCHE 

MODERN VRIA 

for sole. 300 uun. Kwng area 

n*y wrapped UJien, 3 bedroorjo. 

7 bathroom, tep orate 100 sqjx. guest 
apgrhneni, arm, manrara jwrf. 

«CTACUL«WW OVBa.CXWNC 
• THEBAYOFYUBRANCHE 

For (brthpr detafe 
pfaauaxrfod; 

AGEDI 

• 7 ond 9 Boalev ortt dw Mouhw 
MC 99000 MONACO 
Tel: (33} 7150.6WB. Tefax: 479417 MC 
Ftee (33) 9350.I9A 
Iteemafeonal Agency) 


.SWITZERLAND 


□ 

Me to 


UKEGBEYA& 


1973 

CHALETS 


FmreSBr. 


a MooWJ-CCH-l 2 n GaM >2 
4122-734 TS 40. Frt 734-13 10 


REAL ESTATE 
FOR SALE 


SWITZERLAND 


ROUE. Between Geneva ft Lausanne. 
Foronrw can buy new, tuox«xn. 
via. Fax (301) 3227181 


REAL ESTATE 
TO RENT/SHARE 


GREAT BRITAIN 


LUXURY HAMPSTEAD HOUSE Fully 
[uitohed, 2 large raoepnons, beautrful 
fakhen. double gvage, 8 bedroom 
en Mate. Piwote gardens. 


maathL Rent _ 
5ecunty 071 4993138 


WX 1 W 3 
TeL J ft P 


LONDON WT. 677 befeoore home, all 
en ante faly Funwhed. Gauge. Mm- 
nwn 3 monifs. araUaUe immedatek. 


KNKSHTSBnDGE E59/n 
fawny flab beside Harm 


HOLLAND 


pura H0USM6 CHORE EV. 

' Driux* renterfx 

Vrrfenuntr. 174. 1075 GH Anaterdam 
Tel: 31 J0A64 4444 Free 6645354 


PARIS AREA FURNISHED 


REAL ESTATE 
TO RENT/SURE 


PARIS AREA FURNISHED 


AT HONE IN PARK 

PARIS PROMO 

apartment: to rert fwrwhed ar not 
Sate ft Property Management 5 byxcs 

25A/Hoete?3M8 FWftxl-ttSnOM 

Tel: (1] 45 63 25 60 


74 CHAMK B.VSB5 

US CLARIOGE 

Ft» 1 WSC OR MORE tvgh dan 
riwte. 2 or 3-racm wa rwe ati . HALT 
EQUIPPED IMMSXAnERESEBVATIONS 
Tel: (1)44 13 33 33 


YOUR HOME M PARK 

INfiS URBIS 

Luxury rertab ft saies 
31 «ue de Mmceou, 75006 

Tel: |1} 45 63 17 77 


Embassy Service 

YOUR REAL ESTATE 
AGENT IN PARIS 

* tore. dtiMeafa*. 75003 Pom 

Tet []) 45.62.30.00 


AGB4CE CHAMPS HYSSS 

ifeaofcfc n fombhed apartmeno. 
rewertal areas. 3 months and more. 

Tel: (11 42 25 32 25 

. Fa* (TJ 45 63 37 09 


BUSINESS MESSAGE CENTER 


ATIB/nON executive: 


3 


to V 

TrfbmWr 

MM of a mt 
w rtfate mo * at ohm* raw 

read A Jmf fetoun^M 

613395) Awtorw 10 a.a^ 


itO UMti you wU to tihmram 

to. Him mam bar and 
uprefiM date eerfjie| 

nfiteH amS MipJhm. 


BUSINESS 

OPPORTUNITIES 


AV ARABLE CAPITAL 

Md Scot and Orfanf captol nvcsi 
OvdlaUe for inrtt h wr ii worklmde in 
rate estate; busuete riortepi or debt 
gamoMphW L Long terms, bed rales, 
bfohfif to pdj & |WWbL 
fax your pntUMld sumnery to 

MBMdi^Arntc pw Thm V 

Pfaim Ur. Ortega on HG7) 23-2?63 


BANC A TRUST CO. 

Offshore jwwfidxM, 
Nohww (h'._-«/beCTw thorn 
. Noaaeh/iabAte. 

No q wBiorfia n r eparenw ib 
or nnanM ttodosuna. 
famdale deteav. Ui. 515,000. 

CoMitf ftidk Canada 
Tet|»4pi4MI© fat £04)9434179 


ACHSVOSONLY 

Cowder our opticas 

• WV faswanoe fadtagp 

• Butinen Imne yirf i oa 1 Prognwnn 
■ Business Oppartwwte Re^slry 

• Business Werrd Brandnes 
Search faMmctoxiel Mute tir xi Group 
Ot* ad dem a aS Wte fmsoWbns. 

Tel/Fax: 613-557-B1EO 
FAX- 613SteS705 {Otootfaj 


NTl HEALTH/ NUTltniON CO seels 

far 


p3) S8232162. fa* P3 


BUSINESS 

OPPORTUNTIIES 


OFFSHORE 

Canemi for al purposes 
baring and nswaiee. We offer ^ 
ywx* ixuleuiuruf expenenoe world- 


wide. Bro dw on regaesL 


ASTON 
19, Feel 


591 


MANAGEMBff 

He of Mol 
625 126 


FUN3MG AVAAAELE 
Pmtee venfare group wi invest up to 
US S5QM in any te y tin iu te project. Es- 
pearrty arrested in Europe cad CL5. 
ocmitta. OnUfad parties are noted la 
tifente e <w page wnnepy fer renew. 
Alnpees amised wrfahaa 48 Iuuil 
FAXIL5.617S42 84B8 


MftUGMAIRE AFfSBUIKK J butmo- 

tiongf Orgaiistiai seefa hfl/part- 

tin*repireefltoiwea worldwide. US$ 
3D,OOOf>imfe enady been earned ! 
Fa* now +<C271B1BJ40 


BUSINESS SERVICES 


van aen’ swiss business base 
R fliY MEGRATB) . 
BUSINESS SERVKB 

•BEST LOCATION* • 
fenfahed oflna/Ganfarence room 
Rtone, Tek*. Fax end domofiatton 
Seaetcnd and hurekdion service: 

World-Wide Bnfasen Cmdrei 
Exeaifere Battoen Strvknc AG 

ItoerijJr. 23, 8B1 Zuridi 
Tel 41-1-219 81 11. fax 41-1-219 S2 19 


wwsc 
W 41-1-219 82 


Sites Officer 
fax 41-1-219 82 19 


HONGKONG 
GOMPANES US $325 

Opriate year ns lax or 
W VBLflMlMf Wtt M • 
'of Alto 


SOVRBeN TRUST MmATtONU. 
4066, BE Tncr, lippo Cenoe, * - 
89 OKciimwy.HarioKarg ■ 
TBi + 852861 2244 . - 
FAX: + R32 1685995 


LONDON 

Mat .... 

KX» Ttrf. 


BOW STRSET. 
bIol Carfereta 

9 192F*: 499 7517 


BUSINESS SERVICES 


GENEVA 

SWITZERLAND 

FuS ServioB 
' h our Business 

• I n Jerneii u nel tew end toxei 

• McJbox, triephone. telex and 


■ HJRNtSHH) RENTAU * 
SefmOmd 6 VmriM eptetmade otoy 
Wide ietcc eo p Siwfiaj la ferthowei 
Tel 1-4443 Ball, fax 1-4443 UIO 


FRi. RARE m protiaous townhixHr 
wife iw m xwii g pool, nwh doa dtmte* 
tfadto, 38 5qjn_ + finte garden. 3/6/ 
12 inonfex. F8JB0 charnel mduded. 
Tel (11 45 45 57^76 


16*. PASST- 5 roams US "1™- 
FI 2,500 net QUJU ttfJNSJY: 220 
tqm F40JUO net BD SUOETr 3 
loocra. 00 lam F14J00 rat Tel (1) 
4224 05 44 


"Have Poe Boomer 

DE CMCOU 8 T AS500AIES 
Tel 1-47 53 86 38 Fax 45 51 75 77 


lSfeBLDBRUNE 

2-3 roars, 60 sam, calm, date. HVD0 
wahehags OtM 1-42 25 21 21 


7th, BOURGOGNE Suparfa view 
torafrda. beaulrfiJ 2 tanw roam 
wife plenty of tut Short /Iona term. 


• T ro ndation and sacretanal lerefate 

• Formation, danafatan art 
atewnturt oa of Swiss and foreign 
axnpunes 

• FuiuImJ offices aid canferenai 
rooms far daiy or mortHy rental 

FiA confidence ad daaetian ottwed. 

BUS8CSS ADVISORY 
, SHVICESSA 

Tel 736 05 4a llx 413222 Fra 786 06 44 


SERVICED OFFICES 


YOUR OFRCE IN PARK 

_ orm tor a catato at no ws - 

• ntihr hxclwnd mutem offices 
and conference rooms to rets by tfa 

hour, day. month, eto 

■ Tow tactical or permanent brae 

addreKM tenerai 


9L fa SNioaora 75008 NUBS 

Til fi| «71 3i3i Fm fl) Omm 


OFFICES FOR RBVT 


MBS *»« LOCATION, ax- 

22? redone, 

wo ror stan-up q 
office. Tel: pj-lf 47 
03-1147 4319 


MK, 9 AVBM ftoOt TSOOi 
Ground floa office. 35 sum, F&50Q 
per moife Tefc-pa ICAO’S 


Of^fMEROAL 

PREMISES 


«B«HAIPS-MEGEVE 

CHAlH-HOIBrRBTAUMir 

?SW!VSBl4)5l% a 


PARS BtBNVBRJE Shat term wth 
semee ft famdxri rentob. 3 nghJi to 
2 years. Tel 1-47538081 Fra 47SP299 

LEFT BANK 1 MARAS, top ante/ 
rivdas. 7 ft 3 roontj from F5.410. 
AHA Teb 1-40260190. fax 1-40265094 

7*> - 13*1 century TOWWOUSE, 
etegmt apund floa, 80 iqm. ga- 

deR F123G0/math. fel 1-45 49 OTJl 

PAK1S AREA UNFURNISHED 

HARBB1 HOUSE HUNIBS - LET US 

doyow fnawort! Why Ml bewfit 
feO" nxxe thai 10 year* expenenoe, 
waxrirfuftr relocating 500 fanfas a 
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ADVERTISING SECTION 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


Page 9 

ADVERTISING SECTION 






v m 

mm m 

TWELFTH IN A SERIES 


\DE 8t INVESTMENT 

TWIN ENGINES OF GROWTH 


JAPAN 


Investments / A Slate of Flux 


Opportunities Blossom 
For Foreign Investors 


• - Japsn*r currently troubled econo- 
my has created the most amenable 


In Mb decades, according to merger* 
arid acquisitions experts. 

Atno time in recent years have in- 
vestment trends been in such a great 
state of flux, say market analysts, who 
note that the flow of long-term capital 
in arid out of Japan appears to have 
leveled off. 

Watchdogs in the representative of- 
fices of the American Chamber of 
Commerce and the European Busi- 
ness Community in Tokyo confirm 
that as Japanese businesses begin 



emphasizing profits over market 
share, they are shifting from large- 
scale purchases to smaller acquisi- 
tions that fit into more streamlined 
business strategies. The main reason 
behind this contraction is simple; Ja- 
pan's economy is currently so weak 
that many previously successful firms 
are having trouble even meeting oper- 
ating expenses. 

The government's 10.7 trillion yen 
($86 billion) “Economic Stimulus 
Package" is geared toward increas- 
ing domestic demand rather than ex- 
ports and eventually reducing Japan's 
massive trade surplus. In practice, 
however, according to a spokesman 
for the ITOCHU Corporation, “a num- 
ber of problems remain unresolved, 
particularly the collapse of asset 


• . . 

’ ‘“I ** T* 


■ prices and the low level of private- 
sector Investment These have ad- 
versely affected business confidence 
arid consumer spending; As long as 
consumers retain a pessimistic out- 
look, it is doubtful whether increased 
goverrifftent spending will quickly give 
rise to increased domestic demand. 
Large increases in imports are not to 
be expected soon." 

Concerning exports, the ITOCHU 
Corporation spokesman adds, "The 
trends are toward higher-value prod- 
ucts and a steady appreciation of the 
yen. Export earnings will probably 
continue to grow at about the same 
rate as last year. In short we foresee 
the trade imbalance persisting 
through 1993." 

The value of Tokyo stock exchange 
stocks fell over 60 percent between 
late 1989 and late 1992, and domestic 
sales have diminished this year as 
inventories have swelled, forcing In- 
vestment cutbacks and reorganiza- 
tions among companies of all. sorts, 
including banks and brokerages. 

Slamming the brakes still further on 
Japanese corporate investment even 
for much-needed modernization of 
plants and equipment » a resolute 
curtailment of lending by banks strug- 
gling to meet the Bank of International 
Settlement's (BIS) 8 percent capital 
adequacy requirement which goes 
into effect in March. Popular wisdom 
holds that, if the Nikkei average re- 
mains arourid 15,000, half of toe 11 
so-called City Banks - some of the 
world's largest financial institutions - 
will miss the deadline. 

Already smarting from their own 
stock market losses, Japan's 21 larg- 
est banks are saddled with some 8 
trillion yen in non performing loans, 
according to Ministry of Finance esti- 
mates. And the government looks un- 
likely to subsidize the liquidation of 
real estate held as col late red, especiaf- 

Continued on Page 10 



Finance / Surviving the Slump 


Barriers Lowered Between 
Banks, Securities Firms 


Tracking the course, of a fast-changing economy proves a challenge. 


Although some brokers remain' 
bullish, most believe It Is unlikely that 
Japan’s stock markets will improve 
drama ti cally in the next 12 months. 
This win create advantages for for- 
eign Investors who can buy Into com- 
pares write prices are low, and prob- 
lems for listed companies. 

in a series of convulsions, the To- 
kyo Stock Exchange's (TSE’s) Tokyo 
Price Index, known as TOPIX, plum- 
meted 62 percent from a high of 
2,884.80 points in December 1989 to a 
tow of 1,102.50 this August The oft- 
quoted Nikkei average of 225 selected 
issues fell a similar 64 percent from 
38,957.44 to 14,194.40 over toe same 
period. 

Many brokers believe toe Nikkei av- 
erage will level oft at around 15,000 
this spring and remain there through 
toe year. Five large foreign firms - 
General Motors Corp., Avon Products 
Inc. and FPL of the United States, 
Philips of the Netherlands and News 
Corp. of Australia - recently asked to' 
be delisted from toe TSE, saying they 
consider the Tokyo market to be un- 
profitable. 

Japan has been wracked by a 
whole series of economic and political 
problems, not ail of which it can con- 
trol. in any case, none of toe current 
market depressants are likely to go 
away soon, even though companies 
may well regain their footing as inven- 
tories shrink aid domestic consump- 
tion resumes its growth. 

The government announced in Au- 
gust an 11-point stimulus package 
that it hopes will generate 1 0.7 trillion 
yen ($86 billion) In economic activity. 

In particular, toe plan seeks to help 
banks by facilitating the sale of land ‘ 
held as collateral on bad debts, and to 
revitalize the securities market by eas- 
ing regulations, allowing firms to buy 
their own stock and increasing toe 
amount of funds available through the. 
post office's gigantic insurance and' 
savings programs. 


TSE and Finance Ministry officiate 
believe stock prices will enjoy at least " 
a moderate rebound in 1993 as the - 
Keynesian policies take hold. But a 
general repression-driven malaise • 
has prevented the stimulus package < 
from having any immediate effect on 
either toe markets or the econpmy as 
a whole. 

To restore some confidence in the 
securities market, toe government es- 
tablished this summer a Securities - 
and Exchange Surveillance Commis- : 
sion. Toshihiro Mizuhara, the com- 
mission's chairman, recently met with 



U.S. SEC Chairman Richard Breeden 
for advice. Despite criticism that toe 
commission is organizationally linked 
to the Finance Ministry, its ostensible 
autonomy is widely praised by securi- 
ties specialists as vital to restoring 
investor confidence. 

To open more pastures tor inves- 
tors, toe government has steadily re- 
moved most of toe barriers between 
toe banking and securities industries. 
"Internationalization or liberalization 
of toe finance field is necessary in 
order to match customer needs,” one 
Ministry of Finaice official explains. 

The Diet amended in July the Secu- 
rities and Exchange Law's Article 65 
to let banks establish securities 

Continued on Page 11 













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VERTISING SECTION 



INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


TRADE & INVESTMENT THE TWIN ENGINES OF GROWTH 

Trade / Coping With imbalance 


ADVERTISING SECTION 


.4 : V 7 *.' - 


Tokyo is making it easier for U.S. manufacturers to gain access to the Japanese computer market. 

Investments / A State of Flux 

Opportunities for Foreign Investors 


'.i** 

- *.» 


Continued from Page 9 

ly if land prices remain soft ' 

The fight money supply 
has not only hurt Japanese 
investment but is also re- 
portedly affecting- foreign 
economies aid their ability 
to invest. The BIS earlier 
this year linked a $40.5 bil- 
lion decline in interbank 
fund transfers to moves by 
Japanese banks to pull 
back capital. 

Generating investment 
capital through new stock 
issues is not only ineffi- 
cient thanks to low share 
prices and investor timidity, 
but also iogisfically almost 
impossible amid a nation- 
wide, MOF-directed clamp- 
down on new listings and 
secondary market activity. 

Even as Japanese firms 
cut back on investments in 
such nonperforming mar- 
kets as North and South 


America, Europe and some 
parts of the Middle East 
many companies report 
branching into the rapidly 
expanding economies of 
Asia, including Vietnam, 
Singapore, Thailand, Hong 
Kong, South Korea, Indo- 
nesia, Taiwan and southern 
China. 

And what is bad for Japa- 
nese companies in general 
is proving to be a boon for 
foreigners looking to get 
their foot in the door, ac- 
cording to Tom Cappiello, 
the Arthur Andersen part- 
ner responsible tor corpo- 
rate finance consulting in 
Japan. He says that many 
Japanese companies are' 
being forced to sell off as- 
sets, including stocks and 
real estate, and are increas- 
ingly willing to entertain the 
possibility of investment 
from abroad. Mr. Cappiello 
points out that many over- 


seas companies have opin- 
ions about Japan that are 
several years out of date 
and may not realize the In- 
vestment opportunities un- 
til it is too late. 

The time to seek out 
"strategic partnerships" is 
now, about six months be- 
fore the Nikkei average 
could bottom out, accord- 
ing to some analysts, at be- 
tween 13,000 and 14,000, 
Mr. Cappiello believes, 
adding: “Investment oppor- 
tunities exist not only here, 
but also abroad, where 
Japanese firms are liquidat- 
ing assets.” 

. A recent report by Ya- 
maichi Securities folind 
that during the first haH of 
1992 alone there were 18 
mergers with or acquisi- 
tions of Japanese compa- 
nies by foreign entities, 
twicethe total for all of 1991 
and in stark contrast to file 


15 to 18 takeovers regis- 
tered annually since 1988. 
Some M&A specialists 
speculate that 1 993 will see 
some 40 to 50 such merg- 
ers. 

Foreigners have long 
been drawn to firms that of- 
fer distribution channels or 
production bases in Japan, 
but are now said to be eye- 
ing hard-hit manufacturing 
firms, including pharma- 
ceuticals, chemical and 
electronics makers. Most 
recently. Asian firms have 
expressed strong interest 
in Japanese real estate, 
brokerage sources say. 

But despite the desirabil- 
ity for Japan of foreign in- 
vestment now, the long- 
awaited M&A binge may 
well not come to fruition 
while stock markets here 
remain volatile, some ana- 
lysts argue. 

DavW Bottorff 


Someone has 

to protect the great indoors, 



Auto Sector Key to Reducing Surplus 



The Japanese government is attempting to boost do- 
mestic demand In order to Increase Imports, thereby 
shrinking its massive trade surplus. But the imbalance Is 
expected to persist through 1983 at least. 

When U.S. President Geotge Bush led an entourage of 
top American auto executives on a visit to Tokyo in Janu- 
ary, he was described by the Japanese media as acting 
more like a car salesman than a head of state. After several 
years of witnessing a steady decline in its massive trade 
imbalance with Japan, the Americans were once again 
watching foeir deficit reach record proportions. And, as 
always, when you are talking about the trade imbalance 
between Japan and the Unit- 
ed States, you are talking 
mainly about automobiles and 
auto parts. 

The auto sector makes up 
some 75 percent of Japan’s 
trade surplus with the United 
States and 30 percent of its 
surplus with Europe. Due 
largely to the recession that 
has choked off consumer 
spending everywhere, Ja- 
pan’s overall trade surplus 
was 388.3 billion in 1991 and 
analysts predict that the figure 
may reach $1 10 to 3129 billion 
by year's end. 

The recession has put on 
hold the hard-won progress 
made In a number of trade President George Bush in 
sectors that had . provoked ■ American auto exports. 14 
contention, including semi- have any more tuck? 
conductors. In August Tokyo 

renewed its pledge to help foreign chip makers attain a 20 
percent share of the Japanese market by the end of 1992. 
Although the figure is now nearly 16 percent tow industry 
executives here believe the target can be reached. 

There is more optimism among foreign auto-parts mak- 
ers. In the January talks with the Americans, Prime Minister 
Kiichi Miyazawa signed the Tokyo Declaration urging Japa- 
nese manufacturers to voluntarily increase targets of auto- 
mobile imports and autoparts procurements. 1 

During Mr. Bush's visit Tokyo announced a package of 
measures to improve U.S. access to the Japanese auto, 
glass, paper and computer markets. The highlight of the 
padkage-was Japan’s purchase targets of 319 biliion for 
U.S. auto parts in fiscal 1994 and another target of import- 
ing nearly 20,000 U.S.-made cars within the next tew years. 

Specifically. Toyota Motor Corp. announced it would 
nearly double Its foreign parts and materials procurement 
to 34.6 billion by 1994. The company has also agreed to 
extend technical support to U.S. parts makers. It has even 


President George Bush in Tokyo last January promoting 
■American auto exports. Will President-elect Bill Clinton 
have any more luck? 


agreed to market the cars of its nemesis, General Motors, in 

Japan. 

Honda Motor .Co. is leading the pack in importing for- 
eign-made Japanese cars. Imports of such cars last year 
from the United States increased more than 20.8 percent 
over the previous year, according to the carmaker. "This 
year, we estimate we will import at least 20,000 U.S.-made 
Honda cars, about a 30 percent increase over 1991," says 
Honda spokesperson Shin Tanaka. 

Nissan Motor Co. says it plans to boost its imports and 
U.S. purchases to 33.7 billion by 1994, Other automakare 
have set similar targets. "From an auto-parts perspective, 

things have been very posi- 
tive," says C.E. Peterson, di- 
rector of the Japan office of 
the U.S. Automotive Parts In- 
dustry. ‘‘Our work load has 
tripled. A multitude of Japa- 
nese companies are conduct- 
ing supply searches tor U.S. 
pahs suppliers. There has 
definitely been progress since 
the Bush-Miyazawa talks,” he 
adds. 

' Not to be outdone, the Eu- 
ropeans came knocking at Ja- 
pan's door only days after 
Bush left One automotive offi- 
cial astonished the Japanese 
by freely admitting there were 

few barriers left to the sale of 

kyo last January promoting foreign cars in Japan, but 
President-elect Bill Clinton added that Japan's past pro- 
tectionism had created "psy- 
chological barriers” among 
consumers. Thus, he said, Tokyo needed to adopt an 
“affirmative action” program to boost foreign automakers. 

Japan accounts for over 11 percent of the EC's car 
market in the first half of 1992, the EC's car-sector trade 
deficit with Japan grew to 35.68 billion. In response, Japa- 
nese manufacturers have since announced cuts in car 
exports and plan to expand reimports of Japanese cars 
manufactured in the United Stales and the EC. 

But the current downturn in Japan’s domestic auto 
market which saw a 14 percent decline in sales in October 
and is expected to worsen throughout the rest of fiscal 
1992, is likely to further dampen foreign imports. 

Earlier this year, some analysts predicted that a rebound 
in the Japanese economy would restore consumer spend- 
ing and help level off the trade deficit Now, the feeling is 
that the recession is bound to linger until at least the spring 
of next year, and the trade surplus to linger a lot longer than 
that 

Michelle Magee 


Securities / Trying to Regain Economic Footing 


Over-the-Counter Markets: Some Healthy 


Once an exciting and 
rapfcfiy ex pa nding bourse, 
Japan's over-the-counter 
maricet la looking sluggish 
now, but some refief could 
come In 1993 through posi- 
tive performance by norv 
manufacturing flrma. ' 


In the late 1980s, the Se- 
curities Dealers Associa- 
tion of Japan set out to in- 
stall a state-of-the-art 
automated trading system 
called Japan Association of 
Securities Dealers Auto- 
mated Quotations, or JAS- 


DAQ. When the 15 billion 
yen ($120 million) system 
went into action on Oct 28, 

1 991 , bourse gurus expect- 
ed the number of listed 
companies to rise from 
about 300 to over 1,000 
during the following five 
years. 

But between 1991 and 

1992, the number of com- 
panies qualifying to join 
JASDAQ toil from 95 to only 
15, and no major improve- 
ment is expected to occur 
soon. There are currently 
437 firms listed on JASDAQ 
and only 500 to 600 issues 
will' be on the market in 
1996, according to Koichi 
. Hirata, head of the Conduct 
Division at the Japan Secu- 
rities Dealers Association, 
which monitors JASDAQ. 

The Ministry of Finance 
asked the association two 
years ago to limit the num- 
ber of companies joining 
JASDAQ, Waning the stock 
price collapse in part on ex- 
cessive secondary market 
issues. 

Meanwhile, both share 
volume and trading values 
have fallen. For example, 
some 1,066 million shares 
were traded in 1991 at a 
value , of 6.04 trillion yen 
($48.3 billion). But through 
October, less than 353.7 
million shares changed 
hands for just 903 billion 
yen ($7.2 Wilton), accord- 
ing to the dealers' associa- 
tion. 

And In an additional 
blow, Moody’s Investors 
Service on Nov. 25 slashed 
the debt ratings of Japan's 
Big Four brokerages - the 
securities companies No- 
mura, Dafwa, Nikko and Ya- . 
maichi - citing their failure 
to take adequate cost-cut- 
ting measures to counter a 
slump in commissions. 

All this Is occurring as 


the number of firms looking 
to go puWto on JASDAQ 
has increased, due largely 
to a cutback in bank lend- 
ing arul a growing need for 
operating capital. Particu- 
larly interested In OTC list- 
ing are venture-type ser- 
vices and tertiary industries 
eager to improve credibil- 
ity, secure talented workers 
and diversify their means of 
capital financing, analysts 
say. This trend is expected 
to continue as n on-man u- 



r. :vffv 


factoring firms replace 
heavy industry as the back- 
bone of Japan's economy. 

A recent Kankaku Re- 
search Institute survey 
shows that pretax profits 
among non-manufacturing 
JASDAQ companies will In- 
crease 16 percent in 1992. 
compared to net losses 
among manufacturers, es- 
pecially chemical and elec- 
tronics makers. Overall, 
pretax profits among JAS- 
DAQ member companies 
should surpass 7 percent, 
down from earlier estimates 
of 9 percent foe survey 
says. 

In addition, JASDAQ 
prices as a whole should 
improve in the second or 
third quarter of 1993, after 
m^or companies listed on 
the Tokyo and Osaka ex- 
changes dump their Inven- 
tories and regain their eco- 
nomic footing. DA 


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INTERNATIONAL HERALD .TRIBUNE, THURSDAY, DECEMBER 3, 1992 


ADVERTISING SECTION 


\ Tourism / The Boom 


More Travel 
Abroad, 
More Fun 
At Home 


. Despite the economic stump* Ja- 
pan's tourism industry remains ro- 
bust MiBionsaf dollars are reportedly 
being poured into this booming In-, 
duslry to meet the growing demand 
for tr a ve l refeted sendees and facul- 
ties both here and abroad. 

“More people are visiting here, es- 
pecially to And business and job op- 
portunities, [and at the same time] the 
Japanese are traveling abroad in bur- 
geoning numbers. The government, 
recognizing that travel I s a good way 
to improve both cultural and trade 
relations, has done much to help the 
industry," says MotoshaTachikawaof 
the japan Travel Bureau. 

To help stimulate the economy and 
improve Hving standards, the Labor 
Ministry has directed big business to 
institute 40-hour work weeks and In- 
sist that employees take more vaca- 


Page 




JAPAN 




lions. "Now, thanks to shorter work- 
ing hours, we have much time for 
leisure, and questionnaires on what 
the Japanese want to do with their 
free time indicate that more than 90 
percent want to travel," Mr. Ta- 
chikawa says, adding that approxi- 
mately 12 million Japanese will travel 
abroad in 1992. 

Travel, within Japan is also up. To 
accommodate the trend, savvy Arms 
are investing in new service-oriented 
facilities ranging from hotels and con- 
vention centers to theme parks aid 
golf courses. One of the most glitter- 
ing additions to Japan’s hotel scene 
will be the 30-floor, 304-room Westin 
Osaka. The grand opening of the ho- 
tel, hear Osaka's new international 
airport, will be June 16. The Westin 
hotel chain, owned by the Japanese 
construction firm Aoki Urban Devel- 
opment Corp-i will open another lav- 
ish hotel in Tokyo at the end of 1993. 

The. prestigious Hotel Ofcura chain. 

Capital / Heading Home to 1 



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Not ail work, more play. Leisure travel by the Japanese is increasing. 




known for its high-profile role in host- 
ing conferences, continues to expand 
and Improve Its facilities, according to 
Paul Murakami, public relations man- 
ager. Tokyo’s 883-room Hotel Okura 
near tee (teiter of government and the 
Roppongj entertainment district has 
upgraded its 180-square-meter 
( 1 ,937-square-foot) business center, 
and every room is to have a facsimile 
machine by the end of this year. 

Another accommodations leader, 
the Takanawa Prince Hotel, has re- 
portedly invested 20 billion yen 
($153.8 million} in its new state-of- 
the-art in-house convention center. 
The 41 6-room hotel and the adjacent 
946-room NewTakanawa Prince now 
dominate Tokyo's Shfnagawa district 

The Miyako Often recently opened 
its Koshlen Miyako Hotel in Hyogo 
Prefecture’s Ntehinormya. giving it a 
total of 1 6 hotels around the world. On 
July 30 tiiis year, a new extension to 
the Tennoji Miyako Hotel In Osaka 
was completed. The Kyoto Miyako 
Hotel’s 11 story East Wing extension 
was completed this past October. 

But not all visitors to Japan come to 
do business. The Japan National 
Tourist Organization recently pub- 
lished a brochure called "Your Travel- 
ing Companion" to give leisure tour- 
ists inside Information on how to save 
money while having a good time* says 
Toshiko Sawata of the Japan National 
Tourist Organization, which has 16 
branches worldwide. He points out 
that the new wave of foreign leisure 
tourists want to see Japan on their 
own and are not especially I n terested 
in luxurious Western-style hotels. 
"They are looking for something dif- 
ferent” he says. 


Among Japan’s attractions for tour- 
ists are the many specialized fairs held’ 
each year, such as the International 
Contemporary Art Fair (N1CAF) to be 
held in Yokohama from March 18 to 
23, 1993. The event will boast about 
100'exfitoftors and is expected to at- 
tract some 70,000 visitors. Another 
draw is Japan's many theme parks. A 
massive water park is now being built 

Finance / Surviving the Slump 


In Kobe, and Tokyo’s Disneyland con- 
tinues to attract large crowds. 

Affordable package tours to Japan 
are widely available, simplifying travel 
for those who do not speak Japanese. 
The Japan National Tourist Organiza- 
tion and the Japan Travel Bureau 
have developed a variety of such tours 
to suit travelers’ varied interests. 

D.B. 


Barriers Lowered 


Continued from Page 9 
houses as wholly owned subsidiaries 
and to permit brokers to set up banks. 
Although the bank subsidiaries will be 
largely limited to underwriting and will 
not participate in the equity-broker- 
age business, sources at such long- 
term banks as 1 Mitsubishi, Fuji and 
DaHchi think the move win greatly 
help them stabilize titer financial situ- 
ation. 

Liberalization started in May 1988 
when the Diet revised the Securities 
and Exchange Law and passed the 
Financial Futures Trading Bill to per- 
mit stock-price-index futures trading. 
And some special futures-market par- 
ticipants, including banks, were re- 
cently permitted to buy and seQ TOPIX 
futures and government bond con- 
tracts as part of their gradual Intro- 
duction to the new system. 

The MOF has also agreed to let 
banks set up a ftoancial futures mar- 
ket for foreign currencies and short- 
term interest rates, and will let securi- 
ties. .firms .and banks broker 


The Fallout of the Credit Crunch 


Just Ik nr hard hR are regions that 
once retied on Japan for a steady flow 
ot cheap capital? While o ver se a s 
markets - namely toe United States 
and Southeast Asia - have bean hut 
by tire crecfft crunch, analysts betieve 
the fallout Is not needy as bad as had 
been expected. 

In the United States, prospects ini- 
tially looked grim as capital headed 
home to Tokyo. In fact, many analysts 
blamed the drop in available foreign 
credit for triggering and continuing 
the current U.S. recession. But some 
market watchers claim that the supply 
and demand for capital in the United 
States has remained at a steady level 
despite Japan's withdrawal, tor two 
reasons: cost-cutting U.S. firms are 
shying away from borrowing, and EC 
banks have moved In to fill the gap left 
by Japanese banks. 

Feeling the crunch, however, are 
the former darlings of Japanese In- 
vestment bond-issuing U.S. munici- 
palities. In the 1980s, when Japanese 
banks were undercutting their compe- 
tition, municipalities could count on 
the banks to issue cheap letters of 
credit But with the focus now on prof- 
its, Japanese banks are charging 
rates on a par with their U.S. rivals. 

"Even so, the effect on U.S. finan- 


cial markets is minimal,’’ says Toshlki 
Takahashi, an executive with the 
Americas Division of the Japa n Ex ter- 
nal Trade Organization (JETRO). 
"The U.S. real-estate market is anoth- 
er story,” he adds, 
jn the 1980s, Japanese banks fo- 
cused heavily on U.S. commercial 
real-estate loans, handling over one- 



third of such transactions in California 
alone. But as profit became the opera- 
tive word. Japanese banks started 
foregoing their concentration cm mar- 
ket share and began charging rates 
equal to those of titer competitors. 

Like their Western counterparts, the 
growing markets of Southeast Asia 
are also feeling the pinch. But on the 
upside, many Japanese investors are 


still aggressively eyeing the Southeast 
Asian region. Whereas Japanese 
banks and other financial institutions 
have called home employees or 
closed unprofitable branches in Eu- 
rope, North America and parts of the 
Middle East, they continue to open 
offices in Southeast Asa. 

in addffion, spurred on by the possi- 
bility of greater financial returns, sev- 
eral joint ventures involving Japanese 
partners that had already begun in the 
region will remain on track, with inves- 
tors focusing particular attention on 
Vietnam and China Despite the 
gloom and doom that the media have 
cited regarding the Japanese bank, 
retrenchment some experts believe 
there is a change on the horizon for 
cash-hungry foreigners. Fed up with 
low domestic interest rates and a 
poorly performing stock exchange, 
many Japanese are looking at foreign 
investments as safe havens for titer 
hard-earned yen. 

While this phenomenon doesn’t 
bode well for domestic markets, many 
analysts stiR expect a turnaround in 
the Japanese economy by next sum- 
mer or autu mn. “W ith any luck," ac- 
cording to JETRO’s Mr. Takahashi, 
"overseas lending will pick up, too." 

Robert Carroll 


international futures and options for 
customers after customer protection 
rules are developed, according to Ar- 
thur Andersen & Co. 

Although the move toward an open 
financial industry is often attributed to 
outside pressure, non-Japanese have 
been largely left out of the debate 
Further, many foreign financial firms 
report being comfortable with the 
niches they hare created and either 
cannot afford, or are not interested In, 
branching out in Japan. But when the 
subject of breaking down the wail be- 
tween the banking and securities in- 
dustries began to be discussed in the 
mid-1980s, and even when the first 
scenarios were made public in earty 
1990, banks and brokers had suffi- 
cient capital to expand business oper- 
ations. That is no longer the case. 
Because deregulation comes amid a 
capital crunch and a bearish securi- 
ties market, a British-style 'universal* 
financial Industry is not likely to be 
created anytime soon. 

DJ. 


Construction / Barriers Falling? 


U.S. Firms Have Toehold 
In Public Works Projects 


The Americans have finally been let 
in tiie door of Japan's exclusive pub- 
lic works market, but are only being 
offered a very limited number of what 
one industry analyst terms the 
"choice scraps” from the $231 billion 
In contracts being served up by the 
government this year. 

Still, these "scraps” are nothing to 
balk at In the fast three years, Ameri- 
can firms have won some S622 million 
worth of construction work in Japan 
under the "special measures” agreed 
to in bilateral government talks in 
1988 to open Japan's market 

The result of the talks was the 1 988 
signing of the U.S.-Japan Major Pro- 
jects Agreement In which foreign 
firms were guaranteed equal access 
to 17 public works projects. Two years 
later, 17 more projects were added to 
the Ust, bringing toe total estimated 
worth to more than $20 billion, ac- 
cording to the Commerce Depart- 
ment. 

U.S. firms such as Overseas Bech- 
tel Inc., Schai Associates and the Aus- 
tin Company have been toe main for- 
eign recipients of toe contracts. Last 
year, Bechtel was awarded a contract 
to build the south wing of the passen- 
ger terminal of the $1 billion Kansai 
International Airport located on a 
man-made island in Osaka Bay. 

Schai Associates started work this 
November on its eighth Japanese pro- 
ject a 56-story office tower opposite 
the new Kansai airport, worth a total of 
$439 mfilion. Prior to the pact “struc- 
tural impediments” - most notori- 
ously, dango. or the pre-bid system 
open only to Japanese contractors - 
were a major source of Irritation for 
foreign firms. 

But "special measures" were ap- 
plied to the 34 major projects, which 
allowed for expedited licensing proce- 
dures for U.S. firms, more time to 
tender bids and the publishing of 
tender notices for projects open to 
foreign firms. These measures have 
helped U.S. firms win contracts for 
non-spec'rffed projects as well. Design 
firms, some of which were already 
making their mark in Japan prior to 
1 988, were also given a boost But not 
all in the industry are satisfied. 

"The disparity between the amount 
of work Japanese firms have in the 
U.S. and what U.S. firms have had in 
Japan is quite dramatic,” says Jane 
Dudley, a consultant for the National 
Constructors Association in Washing- 
ton. In 1990, for Instance. J^ranese 
companies won $2.5 billion worth of 
contracts in toe U.S. - 25 times the 
amount U.S. companies were award- 


ed in Japan that year. “U.S. firms have 
been allowed a toehold in the market 
it's a step in the right direction, but 
nobody is thrilled," Ms. Dudley says. 

Both countries are scheduled to be 
back at the negotiations table this 
month to renew the pact, and U.S. 
negotiators will "caR tor more projects 
to be included in the agreement,” ac- 
cording to Ms. Dudley. But Japanese 
officials may not be able to comply. 

Japan's construction market has 
“gonelrom the most explosive growth 
period in 30 years to a dismal out- 
look,” says Peter Sanborn, a con- 
struction industry analyst for Jardine 
Fleming Securities In Tokyo. He adds. 
'The choice scraps that were offered 
tantalized foreign firms into thinking 
there might be bigger meals in the 
future, but the fact is that there will be 
fewer, meals to be had on the table.” 

M.M. 


Saving 
The y 
Bottom 
Line 


• Olympus Optical Co.'s new 
automatic-focus, single-1 ens-re- 
flex IS-3000 camera, an even 
more sophisticated camera than 
Olympus's successful (S-1000, 
has a 35 mm to 180 mm 5x zoom 
lens, a powerful built-in GN28 
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trillion yen ($10.4 billion), giving 
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Page 12 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


HEALTH /SCIENCE 


Resetting Ice Age Clock 


By William K. Stevens 

New York Times Service 



GW YORK — Scientists’ understanding 
of what causes the Earth's great ice ages, 
has been confronted by a major challenge: 
a reootid of ancient teneperatures that 
tfiy contradictory to established theory, 
jrcf comes from a deep crack in the Earth in 
Nevada, tailed Devils Hole, and consists or a ccwe 
drilled from layers of minerals deposited on the walls 
of the crack over the last 560,000 years. 

A pattern of isotopes in the Devils Hole core yields 
both the date each deposit was laid down and the 
temperature at the time. Scientists analyzing the re- 
cord found to their great surprise that the succession 
of cold periods differed significantly from the accept- 
•■£ d chronology of ice ages, as reconstructed from 
records in sediments on the sea floor. 

The good new from Devils Hole, if true, is that the 
periods between ice ages last for about 20,000 years, 

• not 10,000 years as now believed This would mean 
jithat the Earth's present interglacial period in which 
ci vilizati on developed is only about midway through 
"-its course rather than approaching its end When the 

ice does return, it will crash cities and wipe out human 
habitation in northern dimes. 

* But is the Devils Hole record misleading? It is just 
lone record and the prevailing theory rests on many 
lines or evidence. Giaridoguts believe the comings 

rland goings of the great continental glaciers are gov- 
- ■trued by a celestial dance or the Earth, to a grand 
"■nhythm over thousands of millenni a, that exposes the 
nplanet to changing amounts of sunlight as the parame- 
;. r lers of its orbit, tilt and rotation vary in periodic 
cycles. 

r- This belief is known as the Milankovitch theory. 

; after the Serbian mathematician and astronomer who 
.'first proposed it 

■„ The timing of the ice ages, as predicted by astrono- 
1 'mas from the Milankovitch theory and confirmed by 
■- ancient temperatures from sea floor sediments, is 
directly contradicted by the Devils Hole core.' say 
"j scientists led by Dr. Isaac J. Winograd of the U. S. 
a Geological Survey, whose team gouged the core from 
the rock face. 

t(. Since the findings were published in the journal 
^Science in October, they have caused something of an 
rnuproar among the keepers of the conventional wis- 
Lodom. Not least, this is because the chronological 
>n record from Devils Hole is acknowledged by some 
j-'-Mflankovilch adherents to be the best yet obtained, 
-i: technically speaking. 

u The furor focuses mostly on interpretation. In a 
, -I -flurry of faxes and telephone calls, leading glaciolo- 


gists are anxiously comparing notes and thoughts in 
an attempt to shoot down me interpretation being 
placed on thefindings by the Winograd group —or to 
come to terms with it 

“There is a genuine controversy here, and a jolly 
interesting one." said Dr. Nicholas Shackleton of 
Cambridge University in England. 

Dr. Shkkleton, Dr. James D. Hays of Columbia 
University's Lomoai-Doherty Geological Observa- 
tory and Dr. John Imbrie of Brown University are the 
three glaciologists who in 1976 published a paper that 
in most people's view clinched the case for the Milan- 
kovitch theory. 

The theory holds that the timing of gladal cycles is 
controlled by periodic wobbles in the Earth's rotation, 
much as a spinning top wobbles when it slows down, 
combined with other periodic changes in the tilt of the 
planet's axis and the shape of its orbit. 

These changes, occurring over many millennia, alter 
the angles and distances from which the sun’s energy 
strikes the Earth. In periods when less sunlight shines 
on far northern latitudes, according to the theory, less 
snow melts in the summer. 

Millennium after millennium, the snow is com- 
pressed into ice from which the continental sheets are 
builL When the cycle comes around again and more 
sunlight falls in the North, the sheets begin to melt. 

“We never expected our data would end up chal- 
lenging an existing theory," says Dr. Winograd. But he 
now believes that nonperiodic interactions in the 
Earth's climate system are probably the chief force 
behind the onset and retreat of the ice ages. 

The key to the puzzle, in his view, is more likely to 
be found in the constantly churning interplay of heat 
and moisture among the atmosphere, the oceans and 
the ice sheets than in the heavens. 

S HOULD the Winograd interpretation ulti- 
mately stand up, it would force paleoctima- 
tofogisis to reconsider a number of aspects 
of the interglacial period in which we now 
live. Some scientists, noting that the period is nearing 
its end. have raised the prospect that global warming 
brought about by deforestation and the burning of 
fossil fuels might prolong it 
Now they may have to confront another possibility: 
that the natural interglacial period frill last another 
10,000 years and that global wanning Induced by 
h umans will be superimposed on it 

But the jury is still out on the Winograd findings, 
says Dr. Imbrie: “We have had so little experience 
with dating climatic events in environments like those 
in this Nevada cavern that one must be cautious in 
accepting this dating at face value." 



Tales of World Climate Told a Ring at a Time 




-m BRIEF 


f Sky Searchers Want 
A Purer Lead Barrier 


•tr 


PARIS (IHTj — Astrophysicists 
, searching for the “dark matter" be- 
.lieved to make up meet of the uni- 
. -1 verse have turned to archaeologists 

ir/for supplies of ancient lead with 
. J} i which to shield their instruments. 

French soentists have built an 
. -j underground laboratory in the Fr&- 
I {.-.jus tunnel under the Alps, using the 
.{{.1,780 meters (5,875 feet) of rode 
, above their heads to screen out cos- 
i^jnic rays. To screen out radiation 

i-e. -i 


from the rocks themselves, the scien- 
tists need to surround their instru- 
ments with a thick barrier of lead. 

Bui lead that has been exposed to 
the modem environment can also 
give off radiation. So scientists are 
seeking supplies of lead that have 
been untouched since antiquity. 


Hubble Shows Shape 
Of Galaxies Past 

WASHINGTON <WP) — In 
new images from the Hubble Space 


Telescope, astronomers have for 
the first time distinguished the 
shapes of galaxies as they existed in 
die universe at least four billion 
years ago, before they were rear- 
ranged by collisions and other 
forces. 

Where before there were blurred 
images and scientific speculation, 
the Hubble has revealed pinwbeds 
galore, ellipses, rattails, spheres 
and — here and there — the vicious 
slicing and dicing of one whirling 
' galaxy by another. 


By Natalie Angier 

New 7’ivA: Times Semce 

T UCSON, Arizona — The 
Laboratory of Tree Ring 
Research at the Universi- 
ty of Arizona, a sprawl- 
ing warren of dim rooms wedged 
underneath the -campus football 
stadium, harbors about one million 
specimens of wood. 

The samples range in size from 
fragments the size of a baby’s fin- 
ger to enormous slabs sliced from 
the stumps of giant sequoias 
around which you could, comfort- 
ably serve a dinner party of 12. 

And every one of those wood 
specimens, no matter how bland its 
grain or how charred and pitted its 
surface, tells an astonishing story. 

Some tell tales of searing infernos 
that swept for tens of thousands of 
acres across the ranges of the Great 
Basin, flames leaping from one 
parched slope to the next like shin- 
mgpanthers pouncing on fresh prey. 
Other specimens speak of insect 
plagues almost biblical in their bru- 
tality, as sw arms of spruce bud- 
worms descended on proud stands 
of Douglas fir and stripped their 
f diage to near-death nakedness. 

The wood tdls of volcanic erup- 
tions tossing kDotons of ash and 
sulfur high into the stratosphere, of 
flash floods and pitiless frosts, of 
ancient droughts in what is now the 
Western United Stales that lasted 
for centuries and surpassed in ex- 
tremity anything modem Califor- 
nians, despite all they know about 
water rationing, can even begin to 
fathom. 

The narratives are written in the 
rune-like script of tree rin g s, and the 
scientists at the Arizona laboratory 
are making great progress in deci- 
phering their meaning. 

The scientists, called dendroch- 



Hjo BuMc for Hr Ne* Yort Tin 


Dr. Thomas W. Swetnam with a section of a 2,000-year-old giant sequoia. 


ronologists, are using viable and mi- 
croscopic details of ring patterns in 
conifer trees to understand subtle 
drifts in the earth's climate tint oc- 
curred many centuries before hu- 
man observers begun keeping uni- . 
form and detailed records. 

With these insights into prehistor- 
ic weather contritions, the scientists 
hope to forecast better how global 
dimate will fare as industrialization 
continues. 

And while the Arizona research- 
ers take pains to plug their tree-ring 


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as the Cost and largest of 
its kind, they are happily collaborat- 
ing with other tree-ring specialists at 
Columbia University’s Lamont- Do- 
herty Geological Observatory in 
New York,, the University of Wash- 
ington. the University of Arkansas, 
ami groups in Germany, Russia, 
Spain and elsewhere, to thread to- 
gether a comprehensive picture of 
the planet’s changing dimate as cap- 
tured in the silent columns of its 
forests. 

The instrumental data available 
for climate studies only go back 80 
to 100 years at best, said Peter 
Brown, a dendroefaroo ologist and 


climate researcher at the laboratory. 
“Tree rings give us an objective ac- 
counting of the same sort of data 
that takes us back thousands of 
years.” he said. 

The researchers scrutinize the ring 
patterns of trees that rank as the 
oldest organisms on earth, among 
them the bristlecone pines that are 
□early 5.000 years old and are so 
hunched and gnarled they look ev- 
ery day of it; and a type of conifer 
called the Alerce that is related to 
the giant sequoj^amy^tjhe Ari- 
zona.. researchers ^.have just 'con- 
finned is the second-oldest species 
alive, living-®® bout 4,000 years. 


Through analyzing tree rings, the 
Arizona researchers hast conclud- 
ed that they have yet to see the first 
fruits of the so-called greenhouse 
effect the warming of the earth 
that many say will result from hu- 
manity's release of excessive heat- 
trapping gases like carbon dioxide 
and methane into the atmosphere. 

But Donald A. Gray bill, who 
studies bristlecone pine trees grow- 
ing at high elevations in the White 
Mountains of eastern California, 
has evidence that the carbon re- 
leased into the air by the burning of 
fossil fuels like coal and gasoline is 
sharply stimulating the growth of 
bristlecones. 

Scientists have yet to observe 
any other tree or plant pieties re- 
spond to elevated carbon levels 
with a noticeable spurt in growth, 
but Dr. GraybUl suggests the bris- 
llecone pine may be the first and 
most sensitive indicator of pro- 
found changes yet to come in the 
world's forests and fields. 

L ISA j. Graumlich. who 
examines the ring pat- 
terns of foxtail pine trees 
and western junipers in 
the Sierra Nevada, has compiled a 
detailed record of the year-to-year 
variation in temperature and precip- 
itation over the last thousand years. 

She has seen in the North Ameri- 
can trees the feathery but unmistak- 
able signatures of the Medieval 
Warm Period, a era from 1100 to 
1375 A. D. when, according to Eu- 
ropean writers of the time and other 
sources, the climate was so balmy 
thai wine grapes flourished in Brit- 
ain and the Vikings fanned the new- 
frozen expanse of Greenland; and 
the Littie Ice Age. a stretch of ab- 
normally fngid weather lasting 
ran 'tly from 1450 to 1850. 

‘ re can now see that these were 
global climate phenomena, not re- 
gional temperature variations," she 
said. 


When Parents Are Gay 

Studies Find No Pattern of Problems 


By Daniel Golem an 

New Ytrk Times Senior 



EW YORK — Michael 
McCandlish is 12, 
spends five nights a 
week with his mother 
and two with his stepmother. And 
every now and then, he spends time 
with his Dad. 

But even in this day of ever- 
mutating family ties, Michad’s sit- 
uation is unusual. While his 
“Mom,” Dr. Barbara McCandlish, 
is his biological mother, the woman 
he calls his “Step-Mom" was his 
mother’s lesbian lover — and co- 
parent- — until they separated 
when Michael was 5. Michael’s 
“Dad” is his biological father, a gay 
man who was an anonymous sperm 
donor at the time Michael was con- 
ceived, but whom Michael has 
since gotten to know. 

Michael, a sixth-grader in Santa 
Fe, New Mexico, is on his school's 
basketball team, plays in Little 
League baseball, ana is a snow- 
boarding enthusiast. 

Does Michael feel uncomfortable 
with his unorthodox parents? “It's 
never been a problem," Michael 
said. “I’ve always been pretty open 
about it, and I don't worry about if." 

And, seconding to a review of new 
studies in the journal Quid Devel- 
opment, children raised by gay par- 
ents are QO more likely to have psy- 
chological problems than those 
raised m more conventional circum- 
stances. While iheymay face teasing 
or even ridicule, especially in adoles- 
cence, the studies snow that, oyer all 
there are no psychological disadvan- 
tages for children like Michael in 
being raised by homosexuals. 

That conclusion challenges a 
view long held by some mental 
health specialists. And the prevail- 
s “ view has been reflected in court 
ngs in custody disputes around 
the country where judges, even 
more than psychotherapists, have 
assumed that being raised by gay or 
lesbian parents is damag in g to a 
child’s emotional and sexual devel- 


opment. As a result, homosexual 
parents have great difficulty win- 
ning custody of their children from 
a heterosexual partner in divorce 
proceedings. 

In recent years, though, the sci- 
entific consensus has begun to 
change, as more and more experts 
conclude it is based on anecdotal 
reports and biased research rather 
than scientifically gathered evi- 
dence. 

“What evidence there is suggests 
there are no particular develop- 
mental or emotional deficits for 
children raised by gay or lesbian 
parents,'' said Dr. Michael E. 
Lamb, chief of the Section on So- 
cial and Emotional Development 
at the National Institute Of Child 
Health and Human Development. 
The research is still relatively 
sparse, but it all suggests the same 
thing: These kids look O. K.” 

Hg STIMATES of the num- 
|Cl^_ ber of . children being 
raised by homosexual 
parents range from 6 mil- 
lion to 14 rnfflion in the United 
Statses in at least 4 million house- 
holds. While those estimates, from 
sources like the American Bar Asso- 
ciation, may seem high, those who 
make them point oat that the major- 
ity of such families are “invisible," 
in that few outsiders realize there is a 
homosexual .parent. Sometime; the 
children themselves do not know 
until they are teenagers. 

“The great majority of gay and 
lesbian parents are not oat m the 
open about it," said Tun Fisher, 
director of Communications for 
Gay and Lesbian Parents Coalition 
International in Washington, 
which has 40 chapters in the United 
States and Canada. There are at 
least 100 other informal support 
groups for homosexual pareaits in 
the country, Mr. Fisher «id 

In. the large majority of such 
households the children were con- 
ceived in heterosexual marriages 
dial ended in divorce after one par- 
ent came out as hornosexnaL In 
recent yean, families in which cfail- 




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dren are conceived or adopted by 
gay couples are growing more com- 
mon. 

Mr. Fisher, for example, is rais- 
ing a 2 Jt-y ear-old girl and a 6- 
momh-oid boy, both by surrogate 
mothers. His gay. lover is employed 
outside the home, while Mr. Fisher 
works at borne so he can care for 
the children. 

The new studies all point in the 
same direction. “There is no ad- 
verse effect on any psychological 
measure,” said Dr. Julie Gottman. 
a clinical psychologist in Seattle. 
Her study was published in 1990 in 
“Homosexuality and Family Rela- 
tions" (Huntington Park Press). 

She compared two groups of 35 
adult women with 35 who nad been 
raised by lesbian mothers after a 
divorce from the father. The chil- 
dren were 25 on average when Dr. 
Gottman studied them. 

As a group, the children of lesbi- 
ans did not differ from children of 
heterosexual mothers in their social 
adjustment or their identity as a 
boy or a giii Dr. Gottman found. 
The children of lesbians, were no 
more likely to be homosexual than 
those of heterosexual mothers. 

“What mattered most for their 
adjustment was whether the moth- 
er had a partner in the home, 
whether male or female," Dr. Gon- 
man said. Tf sa those children 
tended to do somewhat better than • 
the others in self-confidence, self- 
acceptance md independence. But 
the sexual orientation of the lesbian 
mothers had no adverse effects." 

T HAT conclusion was 
confirmed by about three 
dozen studies reviewed in 
Child Development by 
Dr. Giarlotie Patterson, a psychol- 
ogist at the University of Virginia. 

No study found any impact on a 
child’s feelings about being a boy 
or girl or sexual preference from 
being raised by a homosexual par- 
ent For example, a 1983 stody « 9- 
and 1 fl-year-old girls and boys who 
were raised by lesbian mothers 
found that' none wished to be a 
member of the opposite sex. 

However, researchers sot the de- 
finitive study, which would fellow 
the adjustment of large numbers of 
chfldrcn over several decades, has 
yet to be done. And data from a 
study by Dr. Patterson, to be pub- 
lished eady next year, show, that the 
children of lesbian mothers are more 
like ly than. Others to report feelings 
of anger and fear, as wed as more 
positive feeBngs like contentment. It 
. is unclear whether the findings re- 
flect greater stress among the chil- 
dren of lesbians or a greater open- 
ness about their feelings. .. 


, Nsr^W.at-, 


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SiV. 


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International Herald Tribune, Thursday , , December 3, 1992 



Page 13 


■‘2S 


■hk 


r 111: 



THE TRIB INDEX: 90 

. Intemattohaf Herald Tribune World Stock Index c, composed 
of 230 internationally i rives table stocks from 20 countries, 
compiled by Bloomberg Business News. Jan. 1, 1992= 100. 


110 



The index decks US. dollar values of stocks fn: Tokyo, New York, 
London, and Australia, Austria, Belgium, Canada, Denmark, 
Finland, France, Germany, Hong Kong, Italy, Netherlands, New 
Zealand, Norway, Singapore, Spain, Sweden and Switzerland. 

fn the case of Tokyo, New York and London, the index b composed 
of the 20 top Issues in term s of market capitalization. In the remaining 
17 countries, the ten top stocks are tracked. 


| Asia/Pacific 

Europe 

N. America \ 



Approx, weighing: 35% 

Close: 02.47 Prey.: 82.44 
110 

Close: 92.02 Prav.: 9259 

Close: 9652 Prev_- 3594 







60 


'mmk mmm. 

JASOND JASOND 



1«*2 Wbrid Index 1992 


Industrial Sectors 


JASON 

1992 


Energy 89.94 9053 -0-65 Capital Goods 


9254 92.49 40.16 


UWties 85.76 85.91 -0.17 Raw Materials 


91.71 9157 40.15 


Finance -81.66 8159 -0.04 Consumer Goods 93.65 9350 -0.16 


Services 99.65 99.69 -0.04 IBoceBa n eous 


94.76 9523 -0.49 


For raed&s (tearing more information about the frrtemaflons/ H&utd Trtiim fttarW Stock 

Index, a booklet s avstette /tee ot charge by wilting to 

Tie Index. 181 Avenue Charles da Gauds. XS21 Neu^y Codex. Fiance. 


The troubled 
financial-services unit 
was n 


Executives Scramble to Cash In Now 


By Steve Lohi 

New York Tunes Service 

NEW YORK — This could be a banner 
year for executive pay, thanks to KU CUntou. 

To avoid the higher Taxes the president-, 
eject has vowed to Sap on their imutunillioa- 
doDar pay packages, corporate executives 
from Waif Street to Hollywood are .figuring 
ways to reap pay mid benefits this year in- 
stead of next, according to compensation 
consultants. 

In the most striking example .of the tread, 
the chairman and the president of Walt Dis- 
ney Co. on Tuesday exercised options to buy 
millions of shares of company stock — an 
often-Iucrative form of compensation. 

The options were worth $252 mfifioo. Then 
the two men immediately sold more than 
$200 million of their company’s stock, dting 
“the strong likelihood of impending tax legis- 
lation'’ under a Clinton administration as the 
reason for their actions. 

“The Disney move is a particularly strik- 
ing case, but there's no question that highly 
paid executives axe taking compensation 
this year rather than next year wherever they 
can," said. Gordon Wolf, an executive pay 
specialist at Towers Perrin, a consultant “It 
makes sense." 

In the campaign, the president-elect pro- 
posed raising personal tax rates on people 
with incomes of more than $200,000, impos- 
ing a surtax on millionaires and limiting die 
deduction companies may take on pay to any 
executive at Si mDiaa. 

The most common forms of pay that can 
be taken this year to beat the arrival of Mr. 
Cfinton in the White House are the extras 
that many executives are paid in addition to 


their salaries— like bonuses, grants of stock 
and exexcisiiig options to buy stock that were 
issued in earner years. 

What Michael D. Eisner , the Walt Disney 
chairman, and Frank G. Wells, the compa- 
ny's president, did Tuesday was to exercise 
options on Disney stock granted in 1984 to 
buy shares at a price far below the current 
market price. They then sold many of those 
shares, for a total .of S203.6 mflnon. 

For the company, the deductibility issue 
works like this: the difference between the 

Under Clinton tax 
proposals, companies 
would be able to deduct 
only $1 million for each 
executive. 


of the option — S3.60 a share in the 
aey case — and market price of die stock 
at the time the option is exercised — about 
$40 a share, in this case —is deemed compen- 
sation awarded to the executive. 

Under current law, the entire amount is 
deductible from the company’s lax bill But 
under the Clinton-backed proposals to limit 
deductions on executive pay, $1 million for 
each executive would be deductible. 

Accordingly, the difference to Disney’s 
shareholders of having the men exercise those 
options next year instead of in 1992 could be 
an after-tax cost of roughly $90 million, given 
both state and federal corporation taxes, esti- 


mated Ray Watson, chairman of Disney's 
executive committee. 

Mr. Watson voted for Mr. Ointon and so, 
he said, did Mr. Eisner. But be said that by 
fruiting the deduction on executive compen- 
sation, the new administration wouljl reduce 
corporate profits and could make investment 
in corporate shares less attractive, even 
though the president-eject has made increas- 
ing investment in the economy a priority. 

By the company’s calculation,* the compen- 
sation given to Mr. Eisner, already one of 
America's better-paid executives, in the form 
of the remaining 1984 stock options was just 
over $197 million — and wcD worth it Mr. 
Watson insisted. In 1984, when Mr. Eisner 
look over, Mr. Watson explained, the slock 
market value of Wall Disney was $2 billion. 
Today, it is about $22 billion. 

Though highly paid, Mr. Eisner is generally 
regarded as someone whose compensation is 
linked to his performance instead of merely 
being paid millions for being a chief execu- 
tive, says Graef Crystal a former compensa- 
tion consultant who is a well-known critic of 
executive pay. 

But be added that it was not clear that to 
pay for the options and his taxes. Mr. Eisner 
had to sell as many shares as be did Tuesday. 
“He helped the shareholders by exercising 
his options now, but it doesn't follow that he 
had to sell all the shares that he did," Mr. 
Crystal said. 

Having chief executives bold a big stake 
in their company is a goal advocated by 
shareholder groups because it tends to align 
the interests of management and sharehold- 
ers. Mr. Eisner still owns about 3 million 
shares in Disney. 


Turmoil Poses 
Lasting Threat 
In Hong Kong 


EC to Press for Change in U.S. Trade Law 


O Imstnational Herald Tribune 


INTERNATIONAL MANAGER 

* Westmghouse Chief Finds 
Ignorance Is Not Blissful 

By Kathleen Day 

Washington Post Soria 

W ASHINGTON — Just before Paul E. Lego became 
chairman of Westmghouse Electric Corp. in July 1990, 
he flew to Florida for what he expected to be a routine 
meeting with securities analysts. Instead, he was pelted 
with questions about Westmghouse Financial Services Inc. In the 
1 980s, the subsidiary had made big profits on teal estate, leasing, 
leveraged buyouts and other risky ventures. But analysts wondered 
if it would be crippled by the same forces that brought down many 
banks and savings- an d-loan as- — — ■ —— — — ■ 


Compiled by Our Staff From Dispcidte 

GENEVA — The European Community in- 
tends to ask for the abortion of Section 301 of 
the U.S. trade law in negotiations aimed at 
conriiiding the Uruguay Round of GATT ne- 
gotiations, EC sources said Wednesday. 

Section 301, a key weapon in the U.S. trade 
arsenal is a mechanism through which Wash- 

The EC raaitet risks being flooded with sted . 
plate, as a result of heavy U.S. tariffs. Page 15. 

ingtoo can impose sanctions on countries il 
deems to be wn g agin g in unfair trade practices. 

The sources said the position adopted by the 
U.S. negotiators over tins EC demand would be 
crucial ut completing the six-year-old talks. 

Senior trade diplomats said the Community's 
broad aim was to win recognition from the 
United States that it must move away from use 
of unilateral action to resolve trade disputes. 

The issue of unilateral action, covered by 
Section 301 of the Trade Acts of 1974 arid 1988. 
surfaced again tins week when Washington 
angered EC countries by announced temporary 


duties on snbirirtireri steel from 10 of t h^-m 

Other officials in Geneva, headquarters of 
the Genera] Agreement on Tariffs and Trade, 
confirmed that the United States was coming 
under pressure over the issue. 

“But there are no illusioas that this will be an 
easy matter,” said one envoy from a non-EC 
country that has also been the target of sanc- 
tions by Washington. “It means chall enging tbe 
Congress and the UiL Constitution." 

The Uruguay Round, long stalled over a 
U.S .-EC squabble about farm support, was 
relaunched lut week after the two powers re- 
solved their differences, including those over 
oilseed subsidies There is growing optimism 
that a pact liberalizing world trade can be 
essentially completed by tbe New Year. 

(AFX. Reuters) 

■ France Qaims Support 

Barry James of die International Herald Tri- 

■ bune reported from Paris: • — 

Prime Minster Rene B&rtgovoy contended 
Wednesday that France was picking up support 
from its EC partners in hs agricultural trade 
dispute with the United States. 


Until now, France has been isolated within 
the Community as a result of its threat to veto 
tbe EC agreement with Washington to cut farm 
subsidies. 

Without going into details. Mr. BMgpvoy 
told parliament that other EC countries were 
coming around to France’s view following 
Washington's derision to impose punitive tar- 
iffs on European steel exports. 

Mr. Bfirtgovoy said that this, and the U.S. 
threat to levy 200 percent tariffs on French 
white wine exports, was “unacceptable." 

French officials said President Francois Mit- 
terrand would seek to work out a common 
position with Chancellor Helmut Kohl at a 
meeting Thursday and Friday in Bonn. They 
added that France appeared to be gaining sup- 
port from the Southern European countries. 

“Positions among tbe 12 have evolved," Mr. 
Bfrggovoy told parliament. “I hope that will 
continue." 

Members of Mr. Brifcgovqy’s cabinet urged 
the United Stales to put the issue of agricultural 

See GATT, Page 15 


Compiled by Oo Staff From Dispatches 

HONG KONG —Political fears 
hammered the Hong Kong stock 
market for the second straight day 
on Wednesday, bringing warnings 
of a protracted slump for investors 
despite an economic boom. 

The Hang Seng Index, the key 
market gauge, feU 93.12 points, or 
1.69 percent, to 5,411.65, oo 
Wednesday, following a 5J2 per- 
cent slide oo Tuesday after China 
threatened Monday not to recog- 
nize contracts signed by the current 
Hong Kong government after 1 997. 
when Beijing is to resume sover- 
eignty over the colony. China said 
il would only respect contracts it 
bad approved 

Governor Chris Patten of Hong 
Kong enraged China with plans for 
democratic reforms before 1997. 
He refused Tuesday to comply with 
a demand from Beijing to' drop 
plans he unveiled in October to 
widen elections for Hong Kong's 
Legislative Council. Under that 
plan, local people in 1995 would 
directly or indirectly elect a major- 
ity of the council, which would 
serve through 1997. 

Prime Minister Li Peng implied 
Britain was disregarding agree- 
ments with China on Hong Kong's 
status through the transition peri- 
od “The essence of this problem is 
not whether we want democracy or 
not. but whether there should be 
good faith in abiding by the com- 
mitments,” he said in Hanoi. 

Mr. Li said China was concerned 
about events on the stock market. 
“We hope to see stability and pros- 
perity in Hong Kong. We hope that 
stability and prosperity will be 
maintained (here," he said. 

With the market down about 9.6 
percent for the week, some dealers 
said stocks were oversold and ripe 
for a rebound But Barry Yates of 
Asia Equity said the index could 
fall below 5.000 points, or nearly 23 
percent below the all-time high of 
6.470 it reached Iasi month. 

' The slump is likely to last as long 
as the fate of Mr. Patten's propos- 
als is underided, Mr. Yates said. 
“Were in for a very rough ride 
until February, when the draft leg- 
islation goes to the Legislative 
Council" be said. 

Shares in Chinese companies 


Hills Announces , 
Taipei Trade Deal 
During Rare Visit 

Compiled hr Our Staff From Dispatcher 

TAIPEI — Trade Representa- 
tive Carla A. Hills, on the first visit 
to Taiwan by a U.S. Cabinet mem- 
ber in 13 years, announced a trade 
agreement Wednesday intended 40 
help the United States get a share 
of a $300 billion development plan. 

Mrs. (fills on Monday betaine 
the first U.S. Cabinet-level official 
to visit Taiwan since Washington 
broke diplomatic ties with Taipei in 
1979 and switched to Beijing. She 
said the pact would protect intellec- 
tual property such as patents and 
copyrights and would establish, a 
joint council of economic officials. 

Mrs. Hills is expected to lose her 
job after Bill Clinton takes over . as 
president in January. Nonetheless, 
she is receiving a warm welcome 
from Taiwan officials, who view her 
mission as a signal of support from 
Washington. China has critidaed 
her visit and a recent US. agreement 
to sell 150 fighter planes to Taiwan, 
which had an $£L2 billion trade sur- 
plus with the United Slates last year. 

President Lee Teng-hui wel- 
comed UJS. participation in thede- 
vetopmen l plan. (A P, Bloomberg) 


and Hong Kong corporations with 
heavy investments on the mainland 
have suffered as much as any in the 
latest slump. 

Dealers said Wednesday saw 
overseas institutions, whose invest- 
ment in Hong Kong stocks earlier 
this year helped push tbe market to: 
its record levels, beginning to takei 
fright along with local investors. 1 
Ironically, the plunge in stocks] 
comes against a background of* 
soaring company profits and 5 per-] 
cent annual economic growth. I 
Real estate stocks have been' hhrd 
bit. noted Simon Lam. senior ana- 
lyst at Mansion House Securities 
because a continuation of the quar- 
rel would bun the property market 
(Reuters, Bloomberg, UP1 , 


Looking for a little Clinton lift 


sedations — a real estate slump, 
a collapsing junk-bond market 
and a recession. 

Mr. Lego threw up his hands. 

“li’s the area I know least 

about” he recalls saying to the 

investors. His ignorance of the 

emerging crisis at Westmghouse Financial created an unfavorable 
impression with the investment community that he is stiff trying to 
overcome, said analysts and institutional investors. 

With 34 years on the Westmghouse corporate ladder — including 
two years as president — he should have known about the financial 
unit’s problems, critics said. 

Dissatisfaction with the company festered during the next two 
years, and Westinghouse followed Sears, Roebuck & Co. and 
General Motors Corp. as a company under the gun of big share- 
holders demanding action. 

Last week, they got it Following a weekend meeting of its board, 
Westingbouse announced Nov. 23 it would sell the financial- 
services unit’s assets for what it could get and dose the operation. 

As a result, the chairman’s job seems safe for now. Shareholder 
critics say Mr. Lego may have averted a showdown at the compa- 
ny's annual meeting in May. But whether he will complete his 
tenure in relative peace — he reaches the company's mandatory 
retirement age in two and a half years — is another matter. 

“People say, "You’re part of the problem. How can you correct 
what you caused?' " Mr. Lego said. “But that isn’t true." The 
financial -services investments look stupid in hindsight, but changes 
in the economy, not bad judgment were to blame for the problems 
at Westmghouse, he said 

.Analysts and shareholders, however, complain that Mr. Lego has 
been slower than others to acknowledge problems. 

Chastened by the Florida meeting, Mr. Lego launched a review of 
the financial-services unit Eventually, the company declared worth- 

See WESTINGHOUSE, Page 15 


The Associated Press 

WASHINGTON — President- 
elect Bill Clinton's economic- 
stimulus program will provide a 
small boost to the U.S. economy 
next year, enough to make only a 
tiny dent in the unemployment 
rate, business economists predict- 
ed on Wednesday. 

The survey by the National As- 
sociation of Business Economists 
found that analysts at some of the 
largest U.S. companies held low- 
key expectations for what the in- 
coming president will be able to 
accomplish. 

The association said the median 
expectation of 41 professional fore- 
casters surveyed m late November 
was that Mr. Clinton's program 
would result in a slight, 02 percent 
increase in economic growth next 
year, when compared with what 
they would have expected had Pres- 
ident George Bush woo re-election. 

Meanwhile, tbe government re- 
prated Wednesday that saks of new 
homes dropped a sharp 10 3 percent 
in October. However, analysts dis- 
counted the figure, saying tbe gov- 
ernment was having major problems 
with its initial sales survey and the 
October figure would more than 
likely be revised upward next 
month. If it were not revised, it 
would be the largest drop since sales 
plunged 11.5 percent last March. 

The Departments of Commerce 
and Housing and Urban Develop- 
ment said sales totaled 600,000 at a 
seasonally adjusted annual rate, 
down from a sharply revised 7 per- 
cent gain, to 669.000, a month ear- 



Soufca- Stoomtag Business News 1HT 


tier. The government initially esti- 
mated September sales had fallen 1 
Percent- 

While MisQinion is stiff formu- 
lating his short-term economic pro- 
gram, he has indicated that two key 
dements will be investment-tax 
credits for businesses and a boost 
in spending on roads, bridges and 
other public-works projects of 
around $20 billion next year. 

In a $6 trillion economy, such a 
package would represent only a 
small dose of fiscal stimulus. 

The government said last week 
that the gross domestic product 
grew at a 3.9 percent pace in the 
July-September quarter, far faster 
than previously believed. 


But the business economists said 
much of that increase was caused 
by temporary factors and growth 
was likely to slip again in the cur- 
rent quarter to around 2 percent 

Stiff, the group said it hoped Mr. 
Clinton would not listen to advisers 
who are urging him to take a bolder 
approach in an effort to get tbe 
. unemployment rate down quicker. 

“Oar advice right now is to be 
cautious," said the association’s 
president, Joseph W. Duncan, chief 
statistician at Dun & Bradstreet 
Corp. “Clinton needs to irmmiain 
the confidence of business and the 
markets.” 

Even with an expected modest 
stimulus package, the forecasters 
said tbe budget deficit would be 
516 billion higher next year than if 
Mr. Bud) had won re-election. 

They projected the deficit total 
at an all-time high of $340 billion, 
compared with an imbalance of 
$2902 billion in (he fiscal year that 
ended Sept 30. 

But the added stimulus program 
trill have only a modest impact on 
the unemployment rate, the business 
economists said. They predicted tbe 
jobless rate would average 12 per- 
cent during 1993, only slightly be- 
low the current 7.4 percent. 

Part of the reason for the expec- 
tations of only a modest pickup in 
growth is a widespread belief that 
foreign trade, which has been one 
of the few bright spots for the econ- 
omy, wiff begin showing a wider 
deficit this year and deteriorate 
even further m 1993. 


Democracy in the Eurocracy 


Cunptkd to Our Staff From Dapacha 
BRUSSELS — The EC Commission, reacting to 
criticism that it imposes its will on Europefrora an 
ivory tower, oo Wednesday took the first steps to 
seek more public involvement in its work. 

The commission, which has become swamped 
by corporate lobbyists and pressure groups, also 
said it would begin registering those who Hack and 
try to influence European Community policy. 

The executive body, which drafts legislation and 
issues scores of decisions every week, said as many 
as 10,000 people worked in Brussels as EC watch- 


EC predicts 1.5 percent growth in 1993. Page 15. 

ers and lobbyists for industry, consumers, fanners 
and other interest groups. Inis is almost as big as 
the commission's own staff and it was time to 
consider written “rules of the game,” a commission 
spokesman said. 

The bid to sbed more light on activities at the EC 
bead office stems from criticism that the commis- 
sion, often derided as bureaucratic and remote, must 
do a better job explaining its work to Europeans. 

In a statement, the commission said it would, 
among other things: 

• Publicize more widely its annual work pro- 
gram, unveiled every October. 

• Seek earlier input from industries and interest 
groups on any EC measure that will affect them. 


• Make EC documents available to tbe public 
faster through its information offices across the 12 
EC states. 

• Give more publicity lo existing data bases and 
make these data bases more easily accessible. 

Among EC civil servants this is known as “trans- 
parency." The need for it gained prominence after 
the June 2 referendum in which Danes .rejected the 
ECs Maastricht treaty on European union. 

That rgection, and the narrow approval of tbe 
treaty in France’s referendum in September, has 
been seen to reflect the fear that incomprehensible 
EC laws emanate from an EC bureaucracy out of 
touch with Europeans. 

In addition to the measures announced Wednes- 
day. the commission said it “has started work on a 
number of other issues of interest to the general 
public." Details will be released early next year. 

These issues deal with “when and where" the 
public can get information held by the Commis- 
sion and on improving the way the Commission 
communicates with the European public at large. 

In its statement about lobbyists, the Commis- 
sion said that about 3,000 associations and private 
lobbyists or pressure groups would be asked to 
draw up a code of conduct and to respect mini- 
mum requirements on bow they operated. 

In return for their cooperation the Commission 
said it had agreed to improve the availability of 
information about its work and plans and to allow 
for wider consultation with those affected by deri- 
sions made in Brussels. (AP, Reuters! 


CURRENCY & INTEREST RATES 


Cross Ratos 

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Brawn JUT MM W3 

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C rvqflBIVo. 

Other Dollar Values 


Dec. 2 


FJ*. 

Lira IXF1 

OP. 

Sf. 

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03397 

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HUB 


Eurocurrency Deposits 

Swiss 


Fronds 


Dec. 2 

Dollar 

D-Mark 

Franc 

Reruns 

Franc 

Yon 

ECU 

1 month 4yir4ft 

95MVA 


7JW-7W. 


3ft-» 


3 months 3 ft-3% 


SIM Ik 

7 Vw»7 ft 

9VM1VS 


1109-11 Vx 

4 months 3ft-3ft 



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9-11 


10VW0H 

1 year 4>w-4ft 

Sourm: Reuters. (Jorda Bank. 

sew*. 


MO 

3V3ft 



R ul te amkotata to ftfeftm* deposits of si million mtakmen fortoutvotafd). 


Now York and Zurich, fbdnss Ir ether centers; Toronto 
aw donor/ ■■ Unas of no; HO.: not auotod; tvu oof 


Currency 

Pars 

Currency 

Pert 

Currency 

Perl 

Arout-MH 

09901 

Greek woe. 

20585 

Mex. peso 

3TIZO0 

AuriraLS 

1.4*43 

HoaeKeas* 

7343 

N. Zealand S 

15*74 

Mtttr.scML 

1U5S 

Htsao. total 

pm 

Narw. krone 

*49* 

BraxHcna. 

9*3100 

lmflart rupee 

20571 

PUL peso 

253* 

dtiaesayuaa 

5JUS5 

ladB.rvptoH 

204000 

PWtdi zloty 

1478*. 

Czeca xanssa 

«M 

Irfcftt 


(terLacuda 

74050 

Date*) krona 

4136 

Israeli sOek. 

244*7 

Ronton ruMe 41700 

Eavpt. pamd 

33195 

Kuwaiti tilaar 029W 

Saw* rival 

3391 

Fto. markka 

5JM&3 

Maknr-rtoa. 

25373 

Steu.5 

1MK 

Forward Rates 




Cat i ntc* 

2 

today ifrday 

90-OOV 

Cmeucr 


Paund Sterling 

1505 15309 

15351 

COMMA denar 

Daotecht nark 

15790 158*3 

15924 

Japanese y « 

1 

Swiss franc 


UOU 1-4117 

14147 




Currency Per J 
5. Mir. earns! 1993 
S,Kar.waa 7BUS 
SaMAKren 43*1 
TBhmnS 3$45 

TMtaH K51 

nrtlshllrv S2TU2 
UAEdtfmi 14723 
VHO.HII*. 7U0 


30-dcv Mn tMw 
UN 12937 12W« 
13429 13Ua 1H31 


Key Money Ratos 

United State* 

DtKOvntrete 
Prime role 

Ftthral funds 
JkmoeffiCm 

Comm, posmt mam 

Vmwim TrMsanr mn 
l-veor Trwunr Ml 
a-rw Traunr nrie 
S-yur Trassary net* 

7 w T reom rr ante 
Wyav Treourv mm 
3*- vw Treasury bond 
Mumu Lyodueaiiy Reodvi 


Saras; IWO BOOK (Am u tntamu tnoosvcr wm c (unsww: umrarow n dwb 

(MHtatlt torn F*w Frosse (Portal; Book ot Tokyo (Totaml; Royal bo* of Canada 
(Toronto); imp ( SDR). Omar dote Ram ReutorsendAP. 


MCMtetra* 

CaU momr 
T-nwith fell trunk 
Smalli MattaBic 
frmoatb toMftxmk 
layeor Corp wn eal ixmfl 

Perwiy 

LonUxnf rate 
Con moan 
T-mootA intertask 
hnaMtatoMi 
tfuitti krtarboiK 
UHresr Bund 


Close 

100 

LOO 

m 

X 23 
Z£1 
112 
m 

437 
tfl 
451 
6J1 
7J6 
■el 2X0 


3Y4 

311, 

3*i 

3* 

3* 

va 

Tta 
190 
M5 
fXP 
US 
7 M 


100 
&00 
3 tv 
327 
US 
314 
Uf 
4J2 
424 
UB 
U3 
7J6 
IX 

314 

3th 

3ft 

n 

3ft 

4M 

m 

YU 

MO 

MS 

»«i 

735 


Brttrta . 

BOM bow rede 
CaM teeny 
Vmoett brtertddk 
amcitftMerBuK 
t-maotli tatefBeak 
WyaorOUt 
Franca 

Intervention rata 
Onffnttner 


tweaO Mamnafe 

»*ew oat 


Bn 


750 

1M 

750. 

7ft 

7U 

7ft 

7ft 

7ft 

7Vk 

7ft 

059 

B5I 

9.10 

9.10 

9ft 

9ft 

10ft 

10ft 

10ft 

10ft 

mm 

1000 

. 851 

047 

rs. Bloomoeru. Morrill 

Tatra. Commerzbank, 

is CrtaSt Lvonnata. 



Gold 

AJKL PM. CBtee 
2L 2tl mu 33525 +190 

London 335.10 33545 4-140 

NawYofB mso 33545 +U5 

US. donors ear ounce. Landoa o/ftcfal ax- 
tags/ Zurich and now York aantino and ete- 
taaarlcasi Now York 
Source: Reuters. 


Centel Believes 
Sprint Merger 
Won Approval 

Compiled by Ow Staff From Kspattha 

CHICAGO — Centel Corp. pre- 
dicted victory Wednesday for a 
proposed merger with Sprint Corp. 
after Centel shareholders voted cm 
one of the year’s mast body con- 
tested buyouts. 

“We’re confident based cm what 
we have in our hands right now that 
the merger will be approved,” Cen- 
idCbainnan John P.Frazee Jr. said, 
referring to proxy votes received. 

Sprint said its shareholders ap- 
parently backed the deal on 
Wednesday by a substantial margin. 

Nearly all the opposition to the 
$2.85 bfflion deal came from Cen- 
tel shareholders, who believe the 
trams of the proposed transaction 
— 1 .37 Sprint shares for each Cen- 
tel share —are not good enough. 

At least four large institutional 
owners with a combined told of 13 
percent of Centers 85 million out- 
standing shares planned to vote 
against the deaL (UP1.AP, Reuters! 


“Quadratus”. A solid gold watch 
with the dial engraved in 
the “Clou de Paris” pattern. 


CORUM 

Mcutres Artisans d’Horbgerie 

SUISSE 



Automatic mechanical movement with date and second hande. Water-resistant. A 1st 
in white gold. For a brochure, write to: Co rum, 2301 La Chaux-de-Fonds, Switzerland 












Rage 14 

Market diary 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


U.S./AT THE CLOSE 


Dow Edges Lower 
On Economic News 


VtoAuoooM PM 


Dow Jones Averages 


EUROPEAN FUTURES 


Low Last a*. 


Indus 32*10? 3310X4 3265. IB 324652- 7X4 
Trans 1427JS 1441 J5 141053 1 «UK 4 183 
U1II 718-01 21877 2113? 2T7J?— 0X1 
Cams 1195.10 120240 11BX40 119244- 142 


msk Low Prav.aon 


Industrials 


| Bloomberg Business Nns “The decline 15 healthy for the 

1 NEW YORK — US. slocks stock market," Mr.Goldman said, 
s jumbled Wednesday for a second The Dow industrials had risen 
consecutive day following the re- shout 100 points m the past two 


COCOA (1*0X1 . DM 

nniliinl > Pnnr*m tnHwf-- Starting per metric to«HaTs of 1* too* jaw 

wanoorn a poors inooxoo d*c he m m m- njl na ft* 

Mor 733 735 735 726 1 — — 8W 

Hm uwo men. Mn If. ™ 750 ta - - am 


HW LOW Lost s«mc Clfn 
GASOIL (IPE) 

Ui. deters per metric taHats et is* Mn 
DM inns 171 JO 17273 T712S —175 

AM 17500 7100 17423 17450 —140 


Salomon Cuts Back Phibro, 

“JT Former Bond Traders Sued 

1MWB 


consecutive day following the re- about 100 points in the past two . . :/W- t tR i 
lease of some disappointing eco- wcc H i . N ? w ? po ?“ : : *« "l'- IT T' I 

nbmicnews. ^. aew •• >. IJ 

! The Commerce Department said week. The stock market needs 3&&0 . . . jjf 

sales of new single-family homes UQ* to regroup before boding to . / W 

even higher highs, Mr. Goldman •• • .• 

W ' T,aTOC = A slump in international oil, 

stumped 10.3 percent in October, health-care, telephone and drug •• 
tie largest decline since March, stocks was responsible for leading '-man; • 

“The economic report definitely the market lower. OD stocks such as A S.O. N.O. 

caught some people by surprise," Exxon Corp., Amoco Corp., Cbev- : t933t;: ' •***«. ’ <:■■■'■■ 

saidAlfred Goldman, market ana- ron Corp. and Mobil Corp. were * — — — 

Nst at A.G. Edwards & Sons Inc. hurt by the 12 percent slide in ________ 

^H«±. head ndfd M* 5 ^ “ - 1 

bon Securities Corp. group. Kun wiuiam nyier, an an- Un(sv3 477^ im v*s 1 

□pn ocwuiuca v.v«p. alyst at Oppenheuner & Co. Notnauk uh? sms so* ; 

! The Dow Jones industrial awr- Unisys Corp., NationsBank sw^e* 1 mSl ; 


indvsMato 

Tronm 

utmna 

FlftBtC* 

SP50O 

SP100 


505X1 5D2J5 50459 - 0X6 Sn 
36460 36221 363.11 — 035 
153X0 132X7 15L6B — 062 Mar 
3941 3845 3494-412 
0147 423X1 42949 -ft® Jd 
37L75 39040 391 Jd — 0.10 s» 


NYSE Imtoxi 


« 744 744 763 7S9 — — Mar 

to 719 780 m 7*1 — - JM 

K 79BW27M7M — -Jrt 

Or S2D 822 8Z1 819 — — A» 

ay 836 B37 034 333 — — Bs 

A 851 BS2 NT, NT. - - Op 

» 814 849 044 Ml - - ___ 

EsL Salas NJL 


175M raw imjs 174a -m NEW YORK (Combined Dispatches) — Salomon Inc. said Wedoes- 
17400 InS inS Ini -oSs day that it would take fourth-quarter charges of SS5 million to SlflO 
wo mm iSjS iSn = w million and absorb the operations of its Phibro Energy Inc. umu reducing 
HfS !ga 1 23 its international oil-products trading. 

iTsar ffSa >1045 mxo uadi. Separately, in Washington, the Somnties and Exchange Commaaon 
^ s BS£)Smi^'" taw,14? ‘ OWirnud charges against the two former executives of Salomon Broth- 
crudc oil i ii*ei exs Inc„ the Rim's securities house, who allegedly submitted false bids at 


nw» lw pew area rr* 

— — 23474 —044 K 

— — 29235 —0X9 

— — 211J2— 032 oS 

— — 181-53—044 DK 

— -193X1—040 ££ 


NASDAQ Indexes 


hmi lm oom an» jm, 
WHITE SUGAR (4MW) . F 0b 

D8Bcnparmeirwto»lDlsafnim Mor 

Mar 2S450 2S3J0 25420 2S5JM +142 Anr 

May 257-50 25MB 257.10 254» +162 MO 

AM 244 JO 24400 24150 24540 -i- im 

Oct ? MHt | 25040 23050 + 1.42 Jui 

OK iSt! |JtI 24?40 251 JO + 142 MW 

Mar M.T. N.T. 251 JO 25450 + 142 Sap 

Est. scrias 75L Prev. sates 708. B 

ixntftw Sugar mti Coffee futures were not 
gvortWMo We d ne s day t&t* to pmtotom a cdttto 


BRENT CRUDE OIL CIPEl ttS IOC, UK firm S SCCUrlUeS nouse. 16 1 

M auctions for U.S. Treasury securities. 


Jan 

1655 1 

8 

1836 

10X4 

-615 

F6b 

1692 

1638 

1637 

-611 

Mor 

1650 1 

630 

1639 

1639 

-609 

Anr 

18X3 1 

uo 

1630 

1636 

-0.10 

May 

18X1 

631 

18X0 

US 

— 0X9 

Jan 

-18X0 1 

631 

1833 

— m 

Jul 

18X7 

\JgJ 

1637 

1832 

— 0X4 

APR 

18X6 

Lyj 

1636 

1636 

+ 0X1 

Sep 

1637 

13i 

1637 

1836 

+0X1 


Phibro estimated that 30 percent of the staff dealing with its trading 


EM. Salat 31415 . Pnw. RDM 44540 . 
Ooen UMftsr 94935 


* t Canporte 
...j irntusmois 
I Rnmae 
ttr Imurance 

Inf usuries 


him Low date arte 
654BS 6505 45241 -IM 
707.93 70248 70506 —148 
7ST32 7447? 7*5X1 — 09 
75415 7M44 7508 +0J3 
49748 492.13 4*440 +430 
303.13 50346 50*66 —2^ 


Stock Indexes 


Metals 


6205 61235 621.12 +547 ALUMINUM (Mlgb Grad*) 


Pravloat 
■M Aik 


FTSE 180 (UFFBl 
C2S Mr Index pvlnl 

DM 2WU 277X0 27774 —334 

Mar 28244 28804 2HOS -315 

ion ALT. N.T. 28214 —324 

E5Lvalwiw: 4483. Open MirM 4450?. 


laid off 65 London employees and 18 in Singapore. .An additional charge 
of $60 million to $70 million comes from Salomon's consolidation of its 
four New York offices into two, a move expected to Save SIS million to 
$20 million. The oil-trading unit had $34 muhon of losses during the first 
mue months of the year. ■ w 

The SEC, meanwhile, charged Paul Mozer and Thomas Murphy with 
violating record-keeping provisions of federal securities rules m a com- 
plaint filed in a New York federal court. The SEC complaint also alleged 
Mr. Mozer sold 46.000 shares of Salomon Inc. common stock while 


AMEX Stock Index 


HN* Law Last CM. 


age declined 8.11 to 3.286.25, led Corp., Converse Technology Inc. oti »5! SS i 

by a slump in Caterpillar Inc. Cat- Texas Utilities Co. and Syntex 32S 4 | ^ 3 

erpillar fell 2W to 54*6 after the Corp. were the five most actively raw ffi* 3S5 f 

company said it would report a loss traoed issues. Unisys rose V4 to 1014 chSotb hits » im i 

in ihe fourth quarter. on reports that the company’s goST Jnoi m ™ 5 

■The Nasdaq combined compos- stock would hit $17 in 18 months. g“f c Jflg gj* J 

ite index declined 1.07 to 65188. NationsBank Corp. fell Vt to 50V1 

ending a streak of five straight ad- as the stock pulled back after a amf* Most Acttvos 

vances. Standard & Poor’s 500 in- seven-week rally. Shares of Na- 

dex fell 0.89 to 429.89. Trading was tionsBank, the most actively traded v«. huh low l 

active, with about 244 million on the U.S. composite, are now up us bids 

shares changing hands on the New about 21 percent since Oct 9. The onto' 

York Slock Exchange, off from 259 bank is reportedly in discussions BnKm 

million on Tuesday. Declining with Chemical Banking Corp. and ^sr 

common slocks outnumbered ad- BankAmerka Corp. to figure out mixoi 

van cine issues by more than 4 to 3 different ways to combine check- PnmL V 

. v.. „ , ■ riiriMMi 


Techndc 


Llnlsvs 67786 1848 9*fc ID'* + >4 

NutnaBk 64049 5« 5046 SOM — Uk 

TexUlll 45221 4IM 4114 41V5 — U, 

Srntex 37066 Ufa 23'* 2*fa +148 

BokrHu 31448 1 tfa 1BU 1BW 

Kmart a 27501 3H4 2» 26 — V» 


HIM LOW Ckst CVM Soot 

39160 37143 392J4 —0X1 Forward 


scat*™ PW "Timjo 0, i 18748 119*40 n9siM souroa: RauMn. Matit Associated Proa, possessing confidential information related to the false bids. Mr. Mozer 
,216iB £ ’ f£#Kroe ' was the bead of government bond trading and Mr. Murphy was the t«> 

stwitoo p«- njoMc toe, -- trader. Both left the firm when Salomon disclosed in August 1991 that the 


ibw : 

26 — Vt 

3948 — W 

20 Bonds 
fit “ S ifi utiiitH 


Dow Jorutn Bond Airorgg4i« 


LEAD 

Sitrflag par metric tan 


IflIKU® 1401.00 142740 1427 JO 

IS M?ioo i«gjw 14S3J0 Spot CunmodWM 


SEC was investigating the Treasury scandal. (Rearers, Bloomberg ( 


40U, — Ml 
42Wi — va 
1B*k — 4fe 
3248+14 
16 — K< 

Ufa + V4 
41VJ: + 4k 


io utnntos 
10 industrials 


Market Sates 


^ iSUd ESbm 

ctro. gaglWoMHctoo 8£frS3dW» 

— 044 Soot 554540 555080 5BSJM 556UM Iron FOB. ton 

— 021 Forward J62Q.M 362180 543080 5632 JO LOOOUb 

+0L10 TIN snvar.trayn 

m Dollars nar mMie ton Stool (bn total, tan 

'S3!» sffino «TM0 swam kmoo mi ixmA . ton 

Forward SB6IL00 587000 5735X0 5740X0 Tin. Ib 
ZINC tsnadai Mali Grade) Zinc Id 

1088X0 1088JD — 

Forward 1W7X0 1DUH 11Q5X0 1106X0 DMdaCKlS 


^ Chrysler Escrows Austria Subsidies 


HIM Low Last die 


Financial 


13 114* 

« s 

3% 3S 

S ? 

2Vb i 

.4 44 448 


114* 1146 — 48 

Ufa 7 

1<A 17» 

3ft TH + ft 

na 846 + vs 

4ft 4ft + ft 

i r +% 

448 446 + ft 


HIM LOW Close Cfeanot 
34MONTH STERLING (L1FFEJ 
CHUM- pll 01 NO PCt 

_ Dm 9Z7V 92JO jag U ncfr 

N.Y.SJS. Odd-Lot Trading 5™ S| S 


oq the Big Board. processing operations. 

GavlCwt 


4444 444k 44ft — ft 


FRANC; Bundesbank Helps Out 


64fe 

7i* + fa 

2ft 

8ft + ft 
Ift — ft 


‘Included In fne soles Haunt. 


NYSE Diary 


SAP 100 Index Options 


° Sw 9X51 93X2 9X47 +0X1 

DOC 93.12 9X15 -Oun 

Sh0rt ^ S*ar 92X4 9174 9177 —0X7 

97X20 Jun 92X4 V2JB 9ZX3 —0X2 

101X98 Sep 9120 92.15 9118 — 0X5 

23X81 DOC 91.90 91X8 91X5 Undl 

3SX42 Mar 91 JO TUB 9S M +®105 

28X34 . Est. volume: 28.130.Oean Merest: 751.177. 

3-MONTH EURODOLLARS tUFFB 
— ■ si mWlea - Ms of IM ptf 


Cwewgegm'vtic.ib Tress rgre DETROIT (AP) — Chrysler Corp. will deposit 543 million with the 
shS^'hotm Sjs im Austrian govemHKnt in exchange for allowing its Austrian-made nnnivans 

473X8 4gg tobesdd in Europe without a tax penalty, the automaker said Wednesday, 
tin. tb * 3.7713 17712 The money in escrow could eventually be used by Choker if it decides 

z " x: ‘ u> ^ to douMe capadiy of its joint-venture plant in Graz, Austria. If not, the 

ninlilMii«« money would go to the Austrian gm'emment 

— To settles messy trade dispute, Chrysler agreed to escrow more than half 

cwrpoiv p«r Ant Pay rk the subsidy Austria provided for construction of its Eurostar joint-venture 

increased planL The European Communi ty determined Austria's 589 million contri- 

capital Halting a 36 ft 3-is 3-i bution to the Eto 7 million cost of the factory was far above the 8 percent 
usual e ating on state construction aid. Austria and the EC then agreed Gnysler 

m X6 *! imI iwi omild keep 14.4 percent of the subsidy but must deposit the difference into 
m x? iM4 12- n an account the automaker could draw on for future expansion. 


(Continued from page 1) Referring to Ihe floating of ster- 

. . . , ... ling and the lira, he said: “The Adwwejd 

elections, which must tdke place by system is already seriously dented, 

^ afC ^ L and without the French franc its 

: The election is what markets credibility would be in doubt Try- lows 

need for a serious run on the ing to repair the system after that 
rrpnc" said Charles Wyplosz. an would be very difficulty.** Amur Dl 

economist at Insead. the French “What needs to be draie and 

business school. auicklv is to make the EMS a 


a«e Prev. 


TO TO 3e — ' - - — ft ' 16" ” Jaa N.T. N.T. 9XE 

589 564 19 — — — — 1616116— Sop N.T. N.T. 9X52 

3*03 2453 Z5 JJV, — — - AH Ift— EsLvolum*: MWLOpwi liMarwt; 

“ JSS£^=„“-SSa Wl M80NTH EUROMARKS (LJFPEI 

M 11 “ S S3” DM1 aiHUao-aisaHBiPCT 

M 2BI ZM s — Vt W 1ft - rw oina , Min mm 

— UN. i— a — 2 25 H£ n - a. H S 7 

i 2 7 Jwi 9270 KL60 92X3 

KMnft1M-M64»n- Sep 93X9 93X3 93.03 

MC 9122 9117 9X21 

Mor 93X8 93X1 RX4C 

OOM Pray. Wfl67Ht»«J111MV»nft Jun 9X57 9X54 9X5S 


Dec 

96X5 

*6X4 

96X6 

+0X1 

Mar 

96X8 

*606 

*6X7 

+ OX2 

Jen 

9537 

9555 

95X6 

Urv*- 

Sep 

*5X6 

*5X5 

95.06 

— 0X1 

Dec 

H.T. 

N.T. 

9439 

—am 

Mor 

NT. 

NT. 

94.19 

-8X1 

Jen 

NT. 

NT. 

93X2 

—am 

See 

NT. 

NT. 

93X3 

— 0X1 


Estveluma: U40.0 pmi iMaresh 28X95. 


Amu Diary 


business school. quickly is to make the EMS a 

He said he expected “mounting tighter, more symmetric arrange- Advanced 
pressure because markets see the meat." he said. a As it is now either 
next government not as strongly you follow the Germans— and get JJS'jJSg* 

- very little reward — or you’re oul” nSU lot? 

Foreign Exchange In Italy, officials said a major - ■ - — 

revision of the European currency NASDAQ Diary 

committed as the current govern- grid might be necessary. ' 

meni to a strong currency.*’ “If the marie confirms its donri- i jo 

.For Mr. Wvplosz, interest rates nance over other European curren- gS2«i \m 

are not the major issue. In his view, ties," Treasury Minister Piero Bar- Total iwu *21 

•*if markets believe the policy of a ucd said, “the ERM would need to 

strong franc will be upheld forever, be reviewed right down to its roots." 
then the franc will be strong." ■ Dollar Slides in New York g^nm n 

.-If markets suspect the policy on The doUar finished nixed C/lWJtt lj\ 

the Trane might not be upheld, he Wednesday in moderate, cautious 
said, “then even higher interest trading, United Press International 
rates won't defend the franc" reported from New York. 

iMr. Wyplosz. also warns that a At the dose, the dollar was BEIJING — Chb 
'emporary withdrawal of the franc quoted at 1.5740 DM, little satdlite, giving a bi 


OS Ik HI Ift — - 14 — — 

<11 h 9 . » k m - - — 

ns i6 ft — - — — — - 

42 — 16 — — — — — — 

OtiT row WL 983D1; MM SMI W. iul 
MK bM ««L 8U5I; tow 6MII WL 37MM 


DM 91X8 ■ 91X3 71X6 —0X4 

MOT 92X7 91J3 9U? —CIS 

Jm 9270 KIXO 92X7 — CS7 

SOP 93X9 93X3 93X7 — 0X7 

DK 9122 93.17 93 JO —0X5 

Mor 93X8 93X1 93X8 —0X1 

Jun 9X57 9X54 9XS5 —006 

SOP • 9X55 9X50 9X53 — ftM. 

DK 9338 9X76 93X4 + 0X7 

MOT 93X2 93.36 93X4 +0X2 

Est volume: 66 . 75S. Open lntorwit: 1 430773. 



M X6 ft 12-24 12-11 

EMC, Harsco to Merge Defense Units 

K ili !mi CHICAGO (UPI) — FMC Corp. and Harsco Corp. reacting to 
M ^ 1H1 i2u shrinking military budgets, said Wednesday they would combine their 


o 37 i-is imI defense businesses. 

Q .17 2-10 1-20 I — . 


nxS _ om D+moMii e-Caaoticn rate; m-manIMy; a- 

nss —0X6 awirNitr, Henhnnai 

52 TSS Source: UPI. _ 


a m 3-is w The companies plan to merge FMCs defen sc- sys Lems group and 
a 2 T 1 t‘-!S Harsco’s BMY Combat Systems Division, both of which specialize in 
a m 'm ’i® ms tanks and whidt have combined sales of about SU billion and about 
o X6<6 mo iMi 8,000 employees. The announcement comes a week after Martin Marietta 
o jpft IIS im Corp. a^eed to pay $3.05 billifm for General Electric Co.’s aerospace 

0 xi ft 12-w ihI division, also a reaction to the prospects for reduced defense spending. 
Q 11 Uk Rey products of the merged company indude FMCs Bradley Fighting 

1 **15 ^ Vehicle and artillery systems such as Harsco’s M-109 howitzer. Advanced 
a Ii2 1+ 12-14 Field Artillery System and Multiple Launch Rocket System carrier. 


Caterpillar Turns Sour on Quarter 


lolvaLSUSI; total Mat ML DMA) 

Men dkn dkm oecn mcd dkn dk 99-os *b-17 93-22 — o-n 


__ 27ft — — — — 16 — 

Bft - — — — ft 1ft 

35 - - - — 1 — 

37ft — — — — 1R 3ft 

pny. 40 — — — 9k 216 3ft 

1X0? ® — — — — — J 

VOT Otite tow *oL0; total oom tot 27J1I 
S Mu total wA ISM; taial am inLllOtil 

2X08 Sourea: CSOE 


ucl mo TB-ir rout — irn ■ 

Mar 78-21 77-28 9M2 -0-12 1 

Jun N.T. N.T. 99-23 —0-12 ; 

Etf. vuImtw: 38X11. Open kiterasT: 42X27. 

GERMAN GOVERNMENT BUND 4L1PFEJ 

DM 250X88 - PH 0*118 PCI 
DM 71X4 9870 9073 — 032 • 

MOT 91X3 9127 9179 — £E 

Jua 91X0 7178 7179 —072 . 

Eat. volume: KM. Open Inieml: 161X46. 


Conic oTfermei or teenmiev liwkiial 
s ervi ce s or inieKMLs in real esunc puUnbed 
io ihto newspaper Die nol aMbonecd in 
certain Junstiaiom in which dir Imema- 
iiaaal Herald Trlbaac is diuribaied. 
Includlnc the Uoixed Stoics of America, and 
do not anuiilHle ofTenngn of securities, 
services or iniemis la Ihesc Jurudmioru. 
The UuenutkwaJ Herald Tribune uvmic 
no mponsibiliiv whatoaever far my udver- 
■Mcmenu for offerings tf any Jund. 


PEORIA, IHmois (UP0 — Caterpillar Inc. on Wednesday revised its 
fourth-quarter earnings outlook to a “modest” loss from its previous 
prediction of a marginally profitable period. 

The revised outlook pusned down the price of Caterpillar stock — a 
component of the Dow. Caterpillar stock fell $2,125. to S54.50. 

The heavy-equipment maker cited two main reasons for the p rejected 
fourth-quarter loss: a reduced sales forecast, particularly in Europe, and 
rising losses from Brazilian operations that include write-offs for consoli- 
dating operations. 


China Buys a U.S. Satellite 


U.S. FUTURES 


Via A u ndntod Pram 


Season Season 
Hlah Law 


Open High low Close Chg. 


Season season 
HHMi Low 


Open High Low Close Chs. 


Season Season 
High Law 


Open Hign Low Oaoe O19. 


BEIJING — China has bought an orbiting UJ5. telecommunications 
satellite, giving a big boost to its capacity for television broadcasting, 


Grains: 


WHEAT (CUT) 

5X00 Du minimum- dollars par bushel 


rom the exchange-rate mechanism, changed from 1.5730 DM on Mon- telephone services and data transmission, the Xinhua news.ageacy said i^SS SS-Kj x£ ^82* 

ill owing h to float as sterling and day, and at 124.42 yen, up from on Wednesday. 175 xrs mov 3x0 X48ft X4*i«, axz -goa 

he lira now do, is not a solution. 124.15 yen. China ^ Tetep ommunications Broadcast Satellite Corp. bought the said- tf/% s^. -aSw usk 


“That would mean the end of the It finished ai 1J965 Swiss francs, hte from GTE Spacenet erf the United States, the agency said. It did not I 


European Monetary System and down from 1.4045 francs, and at reveal the price. 

: I..: ,1.1, • 1. . f Itff r 1 r KhI. J ...— 1 ^Tha nlallNa 


+40 

112ft 

Dec 

174 

3J4 

673ft 

173 

— X2b 

418ft 

X1*» 

Mar 

3X3 

664 ' 

"Offl- -S62ft — JKtft 

175 

118 

May 

141 

3X8ft 

146ft 

347 

—M 

172 

HE 

Jul 

123 

334ft 

122 

622b 

— X2ft 

155 

107ft 

Scp 

U9ft 

640ft 

630 

128ft 

338ft 

— X2 

3X0 

117ft 

Dec 

640ft 

640 

3M 

—XOft 

627 

613 

jm 




619 

—JO 


1029 Sop 
. 1044: Doc , 

noa wtar 

1156 MOV 
1195 Jill 


1087 1098 1087 II 


1203 Sop. , 121? 1220 1215. l ^jJ , +W EsI. Sales 


.Vi *3X4 9171 Sep 9270 92.75 72X2 W73 +X1 

!?4 ttn+li, 91.18 Dec 92X2 72X8 92J9 9246 +.01 

JJS* tls 9075 Mar 7245 92X8 T2J9 92X4 +XI 

!!?! + !3 9211 71X9 Jun 9279 9232 922* 9231 +X2 

1212 +f 9291 9210 5«P *214 7222 9215 9221 +X2 


Est. Sales 3X91 Prcv. Sales 4X30 
Prev. Day Opai lot. 56X98 up 1702 


Prev.Sales268.7D4 


Prev. Ocry Open Ini. 1 536857 oH 21X97 


ORANGE JUICE (NYCE) 
15X00 itn.- cents per lb. 


Prev. Sales 12X59 


Prev. Day Open Int. 55X89 ofl 3X95 


BRITISH POUND (IMM) 

Sperpaund-i point ewaissOXOOl _ 

1.9746 1J012 Dec IJ444 1J504 1J340 1J488 -2Z79 

1.9400 1X900 Mar LSJ24 1J394 I -5290 1J368 +22 

J-7170. 1X810 Jun 15260 1J280 1J230 1J26B +22 


WHEAT OCCBTJ 


I Sec ^ mlnl X4mJ?" 


WORLD STOCK MARKETS 


IXZft 3X9 axift _ 

354ft 352ft 35216 — X2ft 

3X0 338ft 3J9 — A?* 

374ft 372ft 37214 — X» 

229 22B 228 .02 

PfV Satej PrvOnw Inf QJ8. 

6X82 24X99 —376 


16300 90X5 Jan *4X0 99 JO 94X0 99 JO +1.15 

14380 92X0 Mar 9975 W250 98X0 10220 +170 1.7170 

12275 9250 M4SV 100X0 103X0 9HJ0 103X0 +1JM Est. Sales Pr»V. Sales 24 J7B 

ixaai 9250 Jui 10075 W225 9875 10275 +13 prev. Doy Open Int. 31.916 011492 

11450 92X0 Sep ID2X0 10200 108X0 181 JO +170 .rTl. 

1J47S 9208 NOV 180X0 100X0 100X0 10175 +170 CANA D I ANDOLLAR IIMMI 

117X0 92X0 Jon 10175 +1JO 5o £f3 lr " 1 30 °?SL — . 

109X0 V3X0 Mar 10175 +170 -76“ ”72 -7» 

- May 10175 -8385 .7416’ Mar .7699 .77 

Est. Sales *500 Prev. Soles 2X40 *“0 JU2 Jun 7638 .74 

Prev. Day Open im. 14X00 oh 191 -J™* 7515 sm> 


Metals 


flsna, France Praue Dec. 2 


Amsterdam 


)Voll(5MOBen 
| Wet la 


5 243 HIUMown 
044250 1CI 


4BN Amro HW 
4CF HolcSna 
4oaon 
4 hold 
Vkio 
M»6V 

6 *Doiti Rubber 
3al» 

lutirmarai Tett 
'JM 
3AF 

5sm 
£ lsevier 
=oic6er 

iht-BroctKles 
HBG 
-tebwken 
-tooaovens 
-turner Douglas 
HC Colon! 
nier Mueller 
nil NederkiM 
CUM 
CNF 
Jed Itoyd 
Ice Grlrrlefi 
•akhord 
Philips 
-lobeeo 

Jodamco 
.loitnco 
Torenlo 
royal Dutch 
Hart 
Unilever 
fan Ommeren 
JNU 

veraanen 
VoUers/Kluwer 
:B5 trend Index : 1M.U 

Previous : mud 


Kbsfbher 

Laetoroke 

LmdSec 


Helsinki 


Amer-YMvma 

Emo-Gufcel! 

K.OP. 

Kymene 

Metro 

Nokia 

Poll loin 

Repo la 

Stockmann 




— Lome 

|r| LeaalGenGrp 

w Lloyds Bcnk 

S O Marks Sp 

2150 MBCaradon 

1050 9J0 MEPC 
NA. — Nan P owe r 

rasa 97 Notwest 
89.90 91 NthWet Wafer 

55 99 JO Pearson 
46 47 P&O 

164 148 PUklnpfan 

I P owerGen 

Prudential 



CJnsePrev. 

Ouebecor A 14 % njq.' SCA-A 
Queheoor B 1*56 14% S-E. Bontan 

Teteplobc 13N 13H Sjmmfla F 

Unlva 7 7 Skontota 

Vtdeotran 1636 16fa SKF 

iBdmtrtals Mm - MSS. 93 st"™ . 


CJom Prev. 

110 112 Alberta Enemy 
15 15 Am Bank* Res 

88 90 BCE 

91 95 Bk Nova Scoria 

7650 7250- BC Gas 
280 279 BC Phone 


5X00 bu minimum- dollars per bushel 
275% 2JMft Dec 211 212V 


Hong Kong 


Rank Ora 
Reck itt Cot 

Rod land 

Reed Inti 
Reulen 
RMC Croup 
RolU Royce 
Roitunans 
Ro^d scot 

5a Irabu rv 
Scat Newcas 
Sait Power 
Sears Holds 
Severn Trent 
Shell 
sw» 

Smith Nephew 
SmlthKUne B 


Smith (WHJ 
Sun Allkance 
Tate & Lyle 
Traco 
Thom EMI 
Tomkins 
TSB Croup 
Unilever 
liM Biscuits 
Vodafone 


Brussels 


'(area 

■Jetmen 

3xkefill 

robeoa 

lemalze 

iJectrabel 

•IB 

>BL 

jevaeii 

jneoletbo nk 

-sl.ulhio 


21 B0 2190 
2080 2100 
1915 1955 
1244 12M 
II750 11925 
104 504 

4345 4225 
1354 1438 
5520 5530 
1284 1320 

2718 2745 

8020 8138 



kteS*'?l , SSa :MttM TraltoboraBF 71^ 7250 BFRraltyHdS 

VOIvo 328 340 BPCaiada 

mmu 1 "" 

Pari* ^-r— gT" 1 

5 B 7 Sydney conod km pocmc 

^ ANZ 278 2X1 cSnTkvA* 3 

™ ^ 8Ssr nTur “ 

$ m SSL. 


27S54 2B4ft Dec 211 212V- 2J0 210V. — XOft 

281 V« 214ft Mar 219ft 271ft .21*1* 21946 

284*6 222 May 27/ 279 227 2Z7ft 

286 226k. JUI 2321* 2J4ft 2J2V5. 23216 

271ft 230ft 56P IMfa 238 -A 23B6 2®ryj +X0V. 

268ft 233ft Dec 2X2ft 24Jft 242ft 242ft — X0V. 

254ft 240ft Mar 250 25BU ZX9ft 249ft 

Est. Sales Prev. Sales 59J09 


HI GRADE COPPER (OOMEX) 
25X00 lbs.- Cents per lb. 


Prev. Day Open I m 750779 off 3X27 


Accor 
AirUauWi 
. Alcatel Atothom 

*5 492 Buna-ire (CM) 
874 073 BIC 


BSN-GO 

Carretaur 

CCF. 

Caras 


Onroeurs 
Pments Fr 
Sub Med 


'Elt-Aqultalne 
ElhSanofl 
Gen. Eaux 
Eurotisntvkmd 
Hadwtta 
.Havas 
.1 metal 

Lafarae Const 
Learond 
Lyon. Eon 


S ANZ 278 2X1 S5tS2a” 

| §KdB 

ss S** ssses 

^ Sr* s is ^SST b a 

l S9 Goodman Field i*a 1J2 

ICt Australia 540 5J4 n|552^ 

Moaelton 250 250 


U0 SOYBEANS (CBT) 

8ft. 3X00 bu m ini mum- (Johan, per buibel 

5ft 4J9 572 Jan 5X8 583ft 5JB 242ft +XM6 

4.15 4X4 578ft Mar 5XZ» 5A7ft 5X2ft 5.66ft +X2 

24ft 448ft 5X4 May 5X9 572ft 548ft 5 .71 +XZft 

14ft 471 5X1 Jui 573 5.78 574 ft S77 +Xlft 

Uft 439ft 5X1 Aug 577 5.79ft 577 578ft +J1>& 

14 4.15 5X4 SOP 577ft 578 576ft 577ft +Xlft 

— 670 5J5ft Nov SXlft 5X4 580ft 582ft -t-.OOft 

25ft 6X8 5.74ft Jan 5.9m* +X0ft 

exs Est. Sales Prev. Sales 39X80 
7ft Prev. Dav Open Inl.l 14X89 off 1X80 

235 
18ft 
9ft 


£f Mooenan 
£ MIM 
EH Nat AostBank 
3% News.Corp . 




8X0 8X3 

228 273 


Malra 

Merlin Gain 
MkhellnB 
Moulinex 
Paribas 


UTfl nrnuBlM* UV to/ 

*35 N Broken Hill 2X6 282 
J2 Pioneer inn 223 273 
t tbS Nmncfy Poseidon 172 172 
jasn OCT Resources ixs 1X4 
TK Stoltns 23 3 2X0 

S TNT 060 044 

•rjs Western MMng 181 3X8 

sssssF 8 - IS a 
js f»s8snair ,: “ , “ 




287 247 
2X6 2X2 

■yrx 


PecWnev Inti 
Pernod- R I oarc 


Prjntemps (AuJ 
Rotietechnlaut 
Raff. St. LoutSH 


USTiSSS 3 ^ SK? ?JS RediulilLa) 
Wej lenme 18X1 18X0 I solid raewun 

■Wnluread 


Williams HUM 

Willis Conam 
F.T.SI indn; 


18X1 1080 Nwird Gobaln 

4X5 *54 


3T-" 

m ; 2744.18 


Ste Generals A 
Suer 

Thamson-CSP 

Total 

UAP. 

Valeo 


Madrid 




Sale Z rai Johannesburg g« gg 

'KSS'SS S"^ 0Arn,,r ..87 B7J8 rp^ SSS 55? 

I roetetttri 7800 7770 Borkswa 


*220 PravWWJlSMJD 

351.10 

199 

Tokyo 

7is AkalElecfr 
275 AeoM Chemical 
1145 Aeduoian 
6XO B ra* of Tok yo 
534 Bridgestone 
329 Canon 
552 Casio 
246 CJIail 

12430 Dal Nippon Print 
238 Dalwa House 
42B7S Oahea Securities 
448 Fanuc 
Full Bank 
Fu I Photo 
FulitSU 


FCA Inti 
Fed Ind A 
Fletcher ami A 
FPI 

G oMCor p 
Oration Group 
auHCda Reo 
Hess HOT 
Hemlo GJd Mines 
Hoa toper 
H arah am 
Hudson's Bay 
l masai 
Inca 

Interprav pipe 



11*40 91 AO Dec 9475 97J0 MJS 

ns.TM Tja Jan 9770 97 JS *7X0 

”4X0 93JHJ Feb 

154B0 Mor 97 J5 9883 9770 

111X0 94X0 Apr 

11210 9378 MOV 98X0 99X5 98X0 

M *775 Jun 

110JB 95X0 Jui 99X0 100.10 99 JO 

11630 9530 Aug 

110.10 15M SOP 10070 10020 10070 

103X0 ¥33® OCt 

114X5 9*23 Nov 

10970 97X0 Dec 10095 100.95 100.95 

102*5 102*3 Jan 

1SK-S0 97.15 Mar 

97.90 99 JO Mar 

Jui 

Est. Salas 5700 Prev. Sales 8X20 
Prev. Dav Open int. 44.130 up 576 
SILVER (C0MEX7 
5X00 tray as.- cent* per irwv ax. 


+is -®40 3605 Dec .7772 .7802 .7764 .7770 +1S 

JS385 7410 Mar .7499 .7732 .7475 7718 +19 

7532 Jun 7638 .7470 7438 .7640 +10 

-8283 7513 Seo 7614 +C1 

7470 Dec .7348 +53 

X712 7771 Mar 3529 +25 

Est. Sales Prev. Sales 4,145 

Prev. Dav open Int. 31X10 upiTI 
GERMAN MARK (IMM) 

S Derma rk-1 pot nrpqudisSUXOOl 

+X5 ZUJ -£S» Dec 4342 8366 .4302 8343 -6 

+XS Mar J,W ■ c93 A1X -? 

+85 -*”0 8070 Jun 8200 8215 8190 8200’ —11 

+X5 £rt0 8320 Sep 8155 —12 

+X5 4100 Dec 8117 —IB 

+2 §3t.5aies Prev. Sales 82,7*1 

+>5 Prev. Day Open lnl.l2sX7l offl2J37 
+X0 JAPANESE YEN (IMM) 

+.«£ *.EK!S"-1 wxnteouols joloooooi 

+-« 088419 X07410 Dec mtM7 X0B0S7 X08028 X08031 —18 

i'S S2^ -SSZi® Mar X0803SX08043 .008035 .88B037 -19 

+J5 008320 -007745 Jun XO0U4T — 19 

+■35 ---- Sep X0B070 X08070 X08D70 X00067 —19 

_onewi. X88081 Dec_ .ocean -19 

t-S Eja.Srtes Prev. Sales 21X30 

+-S Prev - Dav Open ini. 47x15 ofl 744 


177.10 178J0 -JO 

177X0 178J0 • -JO 
17880 17980 +70 

18Q30 181.10 +70 

18280 183X0 +70 

184X0 184X0 +.10 

105.10 18570 +.10 

186X0 18450 -v50 

187 JO 188X0 —1X0 


363.0 Dec 374X 375J J73X 373 J 


+3 SWIM PRANC(IMM) 

3 per Irene- 1 point equals 80X001 
•0209 8280 Dec -7103 7182 J0S2 7140 

■£140 -6785 Mar .7063 7136 7037 .7718 

-8W0 8750 Jun TOM 7105 8795 -70U-? 

. , 8920 8735 SOB 7070 

t-3 gst-SojdS _ Prev. Sales 3SJ2* 


W5 I’W 3 7 <D J74X gJ3 +7 Prev. Dav Open Int. 44838 off U84 

364X Mor 378X 37? J J77X 3777 +7 — 

885 3S-2 Industrials 


2X5 SOYBEAN OIL (CBT) 

— 60X00 lbs- donors per 108 lbs. 
3ft 2299 18.10 Dec 20 


18.10 Dec 2032 2056 2032 2037 +X3 

1879 Jan 30X1 2883 20X1 20M +-05 

UL35 Mar 5083 20X7 SB 82 TOM +X4 

iEE MOV 2077 50.98 2074 70JKI +JM 

19.13 Jui 2086 21.10 50X0 20X7 +X4 

1*X* Aug 21X5 21X3 2085 30X5 

19X0 Sep 21X5 2IJ0 20X7 20X7 +X1 

19.53 Qd 2DJ8 21X5 28X0 2080 —81 


5T3X 364X Mor 378X 37? J J77X 3773 

4738 3700 May 3818 3820 380X 380.1 

470J 3720 Jui 3B4X 384J 3838 3828 

mjl ■ T75j 0 Sep 3857 

462X 3SM Dee 3920 392X 3908 3S8X 

44?ji 3020 Jan 3917 

4HS.S m® Mar 378X 3*8X 39BX 3937 

435JJ 3«JD May 399A 

404-0 4D1J Jui 404X 4040 40BX 403X 

4005 4038 Sep 40U 

Est. Sales 4X00 Prev. Sales 5X39 
Prev. Dav Open Int. 71X38 off 1X29 


BOV 2360 2395 

Boe Central Htob. 2945 om I 


:iCB 22580 22300 Blvvoor 

[•oworfln 2470 2495 Butfeta 

taaw !,M Stiss* 

Geneor 

1 GrFSA 

■ Hdrmortv 

j Frankfurt kBST 1 * stMl 

.EG 156157X0 N ^° nk Grt 

f.nlonz Moia less 19H Rondlontein 

j.ltnno 525 524 Rusolat 

.AkO 440 450 SA Brews 

jtASF ZHLfflWiSt Si Helena 

I wv nr 256255.90 sas«5 

.lay. Hypo bank 402 404 


|iav Vereinsak 412414X0 

r.BC _ 531 548 

1«HF Bank 407 409 

tjMW 491 498 

■wnmentMiik WJBOUisa 

lentlnenM 201203X0 


** S^Sdos 

S|«» MS* 0 ' 4 

•S ? 'ss Ta hocg lero j 

^. , &rr^as e * : 

15J5 15X5 

% ^ Milan 

HJB 55X5 Alania 
.,17 17 Banco Comm 

15X5 1580 BaslDdl 
_ 13 13 Benetnn group ' 


TOO §S 830 ^ aU *° 

1340 1265 ■l22Si£ >Br «“ n JS Jg 
3510 3580 

101 191 bUSSS? 0 » 6 

454 445 Brohmo 1350 1320 

55^5 25(jg Ponmopa nemo 112 114 

jug inn Pet mm us inooo 17900 

1105 1T20 T "58bra»_ 137 144 

•■Soie >We Rio Doce 598 61* 

• voria 1300 1358 


Hitachi Cable 

Honda 

itoYokodo 


Japan Airlines 
373 375 KalUna 
52M 5180 Kansaf Power 
290 286 Kawasaki Steel 
13S> 1320 Kirin Brewery 
112 114 Komatsu 

1800017700 Kubota 
137 144 Kyocrra 


598 41* Matsu Elec Inds 

300 1350 Matsu Elec Wfcs 


Matsu Elec wics 
MltwbUifBk 
MBsubWtl Kasef 
MHsuOMil Elec 


412414X0 Western Deep 5175 5280 doohMels 


S ^|SSS8^SB k ‘° ,ta::n,I ISS 


iKdmtor Benz 535X0 550 Abbey tun 

iftoy wo . 340338X0 Allied Lyons 

:il Babcock 141 Ml Ai-lo Wtootns 

ttoutsdie Bank 672X0 677 Argyll Group 
IRWolas 428 43« Ass Brit Poods 

iresttaerBank 154 355 BAA 

l eWmueiile 529 513 BAe 
iJarpener 2SB 252 Bonk Scotland 

xenfcef 54957270 Bardavi 

'UcMIef *08 974 Bass 

floeehst 2377023870 BAT 

ftaeach 172 190 BET 

Melons,-;’! B49 844 BtoeQrde 

Horton 163 171 BOCCrmp 

1«VKA 254 255 Boots 

.‘nil Sail 10450108X0 Bowoter 

’larstadl 500X0 500 BP , 

f cmBvsI 410 421 Bril Airways 

■;HD. 87 8970 Brn Gas 


London 


1150 1143 
1830 1SS1 


fioeehst 

ftaeach 

Mplpnonn 

tiorton 

L.VKA 

j oil Soli 

’.arstodl 

f.bulhef 

■ •HD 


loecknerWerkr 62 42 Bril Steel 


,-niPP Stahl 


?uRhanM 

•IAN 


155 153 BrHTataepm 
W 471 STR 
w jowljo cow* wir* 
247 271 Cadbury Sen 


flqAAMmam 229J0227X0 Coots Viwrita 
tWalhMsou 324X0324X0 (Comm UMM 


t total Ipeseu 324X0324X0 

vkienaiRueck 2500 2480 
fondia 432 432 


f mixxra 
Kva 
\ v/E 

“tielnmetgll 

.itwriiw 

_L 

omens 

•tyssen 


432 432 ECCGrtUP 
342.10347X0 Enterprise Dll 
_ 148 (Si Eurotunnel 
464X0407 jo Ftoans 
239 246 Forte 
740 750 CEC 
371 384 GenlAOC 
603.1060490 (Mow 
140JO 141 Grand Met 
26336450 ORE 
■WR13H50 Gutaneei 
5*4714^ GU5A 
3177033970 Hen s on 


CrediMM 

Enldiem 

Ferfln 
r e rfln Risp 
174 FtCtSPA 

444 ceneroii 

1X4 IFI 
17* UalCem 
4jo nomas 
773 italmobiNara 
172 Mediobanca 
I.Tj Montedison 
3X1 onvetfl 
19B Pirelli 

ss &««. 

tji §aipem 
775 San Paolo Torino 
125 SIP 
465 SME 

Uj Snln 
eve Standa 
178 Stet 

0X7 Toro AMI Rise 

£3 ffiUS XiF 

6X6 

441 

2.13 — 

££ Montreal 

22ft 22ft 


Singapore 


MltwbWi) Core 
Mitsui and Co 
Mliaukoshl 
Mitsumi 
NEC 


Ceretaps 3X2 3X8 NEC 

Fraser Neave idxo ims Nippon Kogalui 

gqrtlna 93 s 9.10 Ntawiosi 

Gold en H ope P| U7 171 Nippon Steel 

133 NtooonYwen 
Hume Industries 174 174 Nissan 

Inchcape 475 470 NomuroSec 


KLKipong 

Umciwna 


174 174 NBsan 

475 470 Nomura Sec 

470 415 NTT 

2X4 3X3 Ojvmpuc Optical 

077 077 Pioneer 


Laban 
LoMowCo 
Mackenzki 
Magna inllA 
Maritime 
Mark Res 
MacLean Hunter 
Motoan A 
Noma Ind A 
Noranda Inc 
Noranda Forest 
Narcen Enemy 
Nova Corp 
OiSbaysa 
Paourtn A 
Placer Dome 
Poco Petroleum 
PWACora 
Quebec Sturgeon 

RnvTDCk 

Rnralssonoe 
Rnoers B 
Rothmans 
Royal Bank Can 
Royal Trustee 
Sceptre Res 
Scott's Haw 
Seagram 


9 2170 19.13 Jui 20X6 21.10 20X0 20X7 +X4 

26ft 2373 1*7* Aug 21X5 21X5 20X5 3UX5 

40ft 2375 19X0 Sep 21X5 21J0 20X7 20X7 +X1 

27ft 21J0 19.53 Qd 20X0 21X5 20X0 2180 —Ml 

23ft 3145 1976 Dec 21X0 21.13 20X0 30X0 . +X4 

12ft - Est. Sales Prev. Sales 29X95 

26ft . Prev. Day Open Ini. 77X94 off 2X46 
T7ft 

S . 

VS. Livestock 



50 34350 344.10 +1.90 
B0 361-50 362J0 +1.70 
50 361X0 361X0 +1.70 


COTTON 2 INVCEJ. 
aumoibs.- cents per lb. 

OT.M 5B.6B Dec 58X5 58X5 57X5 5843 — X? 

£-» 51X2 Mar 57 JO 58X5 57J5 58.01 -.0* 

6AS K.15 MOV 58.75 5*40 58.68 39.10 — X8 

4*4? 53X0 Jui 3945 6015 SfM 5?.?5 +72 

Si'S S' 71 40 - 00 *040 59.70 6060 +.40 

%% S8 as SS SS iS3 %% ^38 

gdjWja J400 Pmlsotoe 7X00 ** 

Prev. Dav Open int. 


HEATING OIL (NYMB) 




CATTLE ICME) C6X0 33250 AW 341 JO 342 

40X51! Ite.- cents per lb. , 395X0 341X0 Oct 

. 76.92 6770 DOC' 74X2 76X5 76X0 7642 —.10 383JXJ 338X0 Dec. 345X0 346 

7445 68.10 Feb 7U5 74X0 7170 73X7- • 376X0 343X0 Feb 348X0 348 

74X7 6975 Apr 74X7 7455 24X5 707 +X5 360X0 348X0 Apr 

7175 66X0 Jun 70X2 71X7 70X2 71X0 +J8 383J0 34SX0 Jim 

69X5 47X0 Aug 69X5 69.75 6975 69X7 +.10 395X0 342X0 - AIM 

7070 6755 Ocf 70.15 70X0 e*XS »0X Ocf 

70.45 68.10 Dec 70X5 7140 70X5 TUBS —.10 EsT. Sales 25X00 Prev. 30l«5 12X22 

Est. Sales 11X30 Prev. Sales 12X» Prev. Dav Open Int NU84 on 1X08 

Prev. Dm Open Ini. 69J14 up 077 


QOU3 (COMEX1 
lOOtrqy oi.-cicKlars per troy w- 
«NUU 328X0 Dec 335X0 336.90 335X0 

404J0 330X0 Fftb 33640 33770 33640 

410X0 332JW Apr 337X0 339X0 XJ7X0 

4 1850 333.10 Jun 337X0 34040 33? 40 

426X0 33250 AOT 341 JO 34270 341 JO 

3WX0 341X0 DCt „ . . 

383JH 33840 Dec. 345X0 346.10 345,10 

376$$ 3S8M Feb 348X0 348X0 348J0 

360X0 348X0 Apr 

mxso 348.00 jun 

395X0 342X0 - AIM 


67X0 5550 Jon 55X0 5*JS 5570 55X1 —JO 

65.90 54J5 Ftil 56X5 56JSB SiTS «j *Te — ,09 

63X0 aio Mr fi» £« HR ^ -S 

60.70 5275 Apr 54X5 55X0 54 70 54X9 — X6 

«X0 MOV SUB Soo raxs -JB 

& 40 5160 5140 SL45 +X3 

i 1 * 1 S 340 S3 - ro 5X60 5375 +XB 

MJO 5430 AUO 54X0 +.10 

S-« 5?° SS- 4 ® 6540 5540 5545 +.10 

9 *^ swo Sijt0 6648 +.l3 

Sira K 4 " S7J0 S7JW 57J0 57X0 +.18 

42XS 58X0 Jan 58X0 +.10 

Mar 55.90 +-10 

gSJSPnra. Pesetas 3641, 

Prev. Dav open lnl.131.185 ofl 1X72 


Shell Can 
Sheriff Gordon 
5HL Systemhs* 
aoutham 



84.10 8347 B3J7 — X8 

8210 Bl JO 81X2 — 03 

8072 80X2 -.W US T. SILLS (IMM) 

80X0 79 JS 79.90 +.10 St mlFlton-ptStrflOBpct. 


Hnanctal 


80X0 79J3 n.90 +.10 

79X5 70M 78X0 — XS 

7845 7*3 782 -.10 
7870 78X5 7BJJ3 +.15 

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QCBC 840 840 Sanya Elec 


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444 448 Swrp 
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47.15 3+jo Feb 44X0 44X5 43X0 41X5 —.97 

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96X6 .. 9SX2 Sep 95X8 95X0 95X1 95X0 —M 

9618 95.13 Dec 95.12 -X8 

Est. Sales 5J46 Prev. Soles 6621 
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iXOObbL- dollars Per M»L 

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Reuters 

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9187 scJi Jim 92X5 9X91. 9678 *2X7 +xi. 1 Com. Res earch 


Commodity Indexes 

Oom '■ Previous 
«J0 07630 

1X7410 . 1X65X0 






US. 




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H 






tNTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 




EC Steelmakers Fear a Flood 

U.S. Tariffs Likely to Create Glut in Europe 


Coca-Cola Poland to Cut Back 


Europea steelmakers, angered at the U JS. im- 
position of punitive tariffs on thdr exports of sted 
plate, argued Wednesday that the wont, broadest 
effect would be theflooefingof the EC market with 
products that can no longer compete in America. 


. ine u A govaamieiu an Monday imposed conn- 
" terva0inganti-*2imbg duties raaong froni 20to59 
percent oo roiled flat sted from y European - Com- 
munfty countries. Only German steel producers 
esapalljgbtly, 1 percent duties. 

The U.S. Commerce Depa rtment sai d that it had 
. found evidence of illegal state subsidies to the sted 

■ industry from all 12 EC states. 

A spokesman for CockeriH Sambre of B elgium 
.said: The problem is everything exported to the 
U.S. will come back on the EC market That could 
pose problems.” 

CS1 of Spain, striking a similar note, said the 
measures 1 would force other European steel pro- 
ducers to concentrate their efforts on the in tonal 
European market and lead to a general lowering of 

prices within the Community. 

The EC Comndsaon said the duties would have 
a double impact on the EC market because the 
Community would be flooded by exports from 
Eastern Europe, also hit by the U.S. duties. 

The transatlantic steel war has flared up repeat- 
edly over the past decades. The UiS: says massive 
subsidies — S69 billion in the first half of the 1980s 
alone — enabled European producers to dump 
steel on the U.S. market at rock-bottom prices. 

Hone are reactions, conn ny-by-cotm try, to the 
ILSL decision: 

• Germany. The president, of the German Steel 
Asrodation/Ruprecht Voodran, said the U.S. sanc- 
tions, although “unjustified,” would have little effect 


than. “We welcome the fact that the EC sted 
. producers area’! being lumped togetber-to be made 
accountable as one European entity" be said. 

• France. Usmor Sadlor, one of the companies 
most affected by Ibe move, said it intended to fight 
bock through the Freqdr government, the EC 
Commission and the Genera] Agreement on Tar- 
iffs and Trade.. Usmor Sadlor exports 450,000 
metric tong of flat sted products to the United 
States per year, nearly one quarter of the 2.1 
million tons, worth about SI bxZfian, shipped by 
EC produoas. W ashing ton has estimatat mat sub- 
sidies received by Usmor Sacflor amount to about 
26 percent of its production costs, and is imposing 
a provistonal duty, of that amotmf on its exports. 

• Spain. CSL Corporation Siderurgia Integral, 
stands to have 100,000 metric tans of sted exports 
a year impeded. CSI is in the process of merging ' 
with Altos Romos de Vizcaya, or AHV, and die - 
state-owned Empress National de SidourgU SA, 

or Bnridcsa. AHV exports between 70,000 and 
100,000 metric urns of sted annually to the United 
States, a spokesman said. 

• Italy. Ffcderactiai, the national steelmakers’ 
federation, said Italian producers would not be 
directly hurt Federaodki ntd only about 50,000 
tons a year of Italian exports would be affected. 

• Bdgjnm CockeriH Sambre most pay 30 per- 
cent duties, but exported only 148 metric tons to 
the United States in 1991 . “We produce 4.5 million 
tons of sted a year,” a spokesman said. "We don’t 
care about the 148 tons or the 30 percent” Some 
smaller Belgian sted companies have been hit by 
the countervailing duties, but again the impact £s 
minimal. Industry sources said the overall counter- 
vailing duty for plate made in Belgium was 8A8 
percent. 


Adds Output 
In Romania 


Complied ip Our Staff From Dispatches 

BUCHAREST— Gxa-ColaCa 
announced Wednesday it would 
'double its investment in Romania. 

Neville Isdefl, senior vice-presi- 
dent for Coca-Cola’s Northeast 
Europe and Africa region, said the 
company, in a joint venture with a 
.Turkish bottler,- would open a new 
bottling plan* in the northeastern 
city of CralatL Coca-Cola will also 
expand a plant in the Black Sea 
port of Constanta so that the plant, 
which was only bottling Coke, can 
produce it as welL 

investment in the Coca-Cola sys- 
tem in Romania amounts to 538 
milHan so far and wiD rise to 580 
mflhoa by the end of 1993, said 
Muhtar Kent, president of Coca- 
Cola's Eastern and Central Europe 
division. 

“Demand in Romania has ex- 
ceeded all the optimistic expecta- 
tions which we had when we came 
into ‘Romania Bitle more than a 
year ago,” Mr. Isddl said. 

Although Romania has opened 
considerably to foreign investment 
since the cofiapse of Gsumuntsm in 
1989, investment has been braked 
by doubts about its commitment to 
democracy and free markets. 

But Mr. Isddl said Coca-CoJa’s 
experience over the past year had 
indicated "there is no political risk 
in investing in Romania.” 

(AP, Reuters) 


Steel, Coal Sectors 


CoopriU by Oar Staff Fran Dispatches 

WARSAW — The Polish gov- 
ernment unveiled Wednesday a re- 
structuring program for its once 
heavily subsidized sted and coal 
industries that would sharply cut 
both production and employment. 

Sted production is to drop to 
about lu million tons by the year 
2002, from the current level of 18.5 
million tons, while aJ much as two- 
thirds of the work force of 120,000 
may lose their Jobs. 

The plan is aimed at increasing 
production of high-quality steel 
that would be competitive on West- 
on markets,'* said the Industry 
Ministry spokeswoman, Grazyna 
Lewandowska. 

She said energy-saving technol- 
ogies would be installed in the two 
biggest steelworks, in Nowa Huta 
and Katowice in southern Poland. 

The ministry predicts 54 J bil- 
lion wm be needed during die next 
decade to implement (he program. 
The government hopes part will 
come from the World Bank and 
other development funds. The rest 
will have to be covered by the defi- 
cit-ridden government budget or 
from the resources of the plants. 

A special insti turn wiD be created 
next year to superrise the restruc- 
turing process. 

The government wants to spend 
570 rallies to create 50,000 new 
jobs for those hud off. 

-The Polish steel industry is large- 
ly outmoded, with 18 of 26 steel- 
works built before World War H 


WEST1NGHOUSE: No Bliss in CEO’s Ignorance GATT: EC to Press 1/15. on Late 


{Continued from first finance page) 

less 52.65 billion or the unit's ap- 
proximately $92 billion of assets. 

Shareholder groups said every- 
one .but Westinghouse was sure 
more Josses would be declared. A 
group of shareholders sued the 
company, c laimin g the financial 
unit's woes had been purposely un- 
derstated, inflating the stock price 
and misleading investors. 

Still Mr. Lego resisted further 
steps. Westinghouse stock, which 
was trading in the high $20s when 
he became chairman, fell to the $9 
range as pressure mounted for him 
earner to resign or jettison the fi- 
nancial-services unit 

Westinghouse Financial has not 
only been a drag on profit — it was 
responsible for a loss of $1.09 billion 
last year — but also has caused a 
cash crunch in the parent corpora- 
tion and hurt its creak rating. Worst 
of all critics said, way over Jhe 


financial rmii distracted manage- 
ment from helping Westingboase’s 
care businesses in electronic defense 
systems and broadcasting to grow. 

Instead, they say, Westinghouse 
Financial lost time and money in a 
series of ill-advised ventures, indnd- 
ing a savings-and-loan association it 
most now sefl; Pbar-Mor Inc, the 
discount pharmacy <4i»m tlm filed 
for bankruptcy protection after an 
executive aflegafly stole about 510 
million; and mils Department 
Stores Inc:, which filed for bank- 
ruptcy six months after Westing- 
house lent it $50 million. 

Layoffs of more than 4,000 em- 
ployees in tl^ Baltimore eJectromcs 
division in the last two years might 
have been avoided, some share- 
holders said, had investment mon- 
ey been better deployed. 

Most of the directors of Westing- 
house, including Mr. Lego, were on 
the botqd during (the 1980s and 


approved the venture into risky fi- 
nancial businesses. Mr. Lego also 
angered shareholders when he and 
other senior managers gave them- 
selves millions of dollars in bonuses 
bfcsed on the company’s 1 990 unau- 
dited performance, fn 1991, Wes- 
tingbouse revised the 1990 num- 
bers, taking a $975 milli on charge 
against earnings that would have 
wiped out the bonuses. Manage- 
ment kept its reward anyway. 

Once the company disposes of 
the financial-services mqt and sells- 
its furniture company, two elec- 
tronics divisions a real estate 
subsidiary to offset losses, it will be 
left with three technology-based 
businesses — electronic systems in 
Baltimore, environmental systems 
and electric power systems — and 
■ with strong businesses in transport 
te m perature control and broad- 
casting. But the stripped-down 
Westinghouse wiD be far from the 
industrial giant it once was. 


(Cnndnarf from first freer rr page) 

subsidies to one side while seeking 
to make progress in other areas. 

The cuspute over farm trade can 
be set aside to negotiate other as- 
pects of the General Agreement on 
Tariffs and Trade,” said tbe indus- 
try and foreign trade minister, 
Dominique Stranss-Kahn, during a 
visit to Kuala Lumpur. 

“We can come back, to tbe agri- 
culture question when we have re- 
solved the 14 other issues such as 
free market access, financial ser- 
vices and a code on subsidies.*’ Mr. 
Strauss- Kahn said. 

In Paris, the agriculture minister, 
Jean-Pierre Soisson, said that 
“there is not and there win not be a 
-trade war with the United States.” 

- That is not the intention of the 
French gove rnm ent" 

■ Wine Tax Still on Books 

To tbe consternation of wine im- 


porters, the Bush administration 
has not formally canceled its deri- 
sion to impose a tariff on white 
wine from the European Commu- 
nity starting Saturday. But trade 
officials say not to worry, Tbe New 
York Times reported from Wash- 
ington. 

The administration agreed mi 
Nov. 20 to forgo the import taxes as 
part of tbe farm-subsidies deal But 
the extra taxes win automatically 
take effect Saturday unless offibial- 
Jy canceled. 

Julius Katz, the deputy U.S. 
trade representative who has han- 
dled the issue, said that he expected 
the sanctions Lobe canceled by the 
end of the week. The delay was 
necessary because official texts of 
the farm-subsidy pact were sriD be- 
ing prepared and most be officially 
exchanged by American and Euro- 
pean officials, he said. 


Some 25 percent of its sted is pro- 
duced in old fashioned open-hearth 
furnaces and only 7 percent by 
technologically advanced continu- 
ous-casting methods. 

Under the Communists, high 
output was maintained despite 
high costs, through government 
bailouts and an economic policy 
favoring heavy industry. 

Flans were also presented 
Wednesday to rationalize the coal 
industry that would cut up to 
180,000 of 330,000 current coal- 
mining jobs over the next right 
years. Most coal miners unions 
have expressed reservations over 
the program, which was produced 
in consultation with them after a 
wave of strikes in July and August. 

The Industry Ministry is hoping 
to be able to implement the plan 
Jan. 1, but the deadline is April 1. 

Poland also said Wednesday it 
planned to reduce exports of raw 
mining products and put more ef- 
fort into processing to avoid selling 
Off its natural wealth. 

“Poland must stop playing the 
role of Europe’s raw-materials ba- 
sin,” the Industry Ministry said in a 
statement outlining the four- 
mo nth-old government’s mining 
policy. The country is among tbe 
world’s lop 10 producers of hard 
coal lignite, copper and silver. 

Poland also plans to stiffen laws 
banning tbe import of scrap non- 
ferrous metals after a recent flood 
of such metals from the former So- 
viet Union. (A j> r Reuters) 


EC Projection 
Offers 'Bleak’ 
Growth Picture 

Bloomberg Businas Nem 

BRUSSELS — The European 
Community cut its growth estimate 
for this year to 1. 1 percent from 25 
percent on Wednesday, and it pre- 
dicted a weak economy for 1 993. 

Finance Gxmnisaooer Henning 
Christophersen said tbe EC Com- 
mission predicted ‘‘bleak” 1993 
growth of between 1 percent and IJ 
percent. He said he would present to 
EC laden later this month a previ- 
ously announced growth initiative. 

Unemployment in tbe 12 EC 
member stales is forecast to rise to 
II percent next year and “could 
even go beyond that,” Mr. Christo- 
phersen said. The i mp rovements 
in unemployment which have taken 
place since 1986 wiD be wiped out 
and we will be back to the situation 
we were in five years ago,” he said. 


Frankfurt 
DAX : • . 

— 

* — — : — 

: -m \- j r - 

^'j'A's’o tsf OT 
.1992 .: 


London 
FTSE t00 Index 

2800-.- — r- 
27B0 — ^ -ft-- 

m .- — , 

.SODar _ "TTr“~ 

• S30Q W ' - ■ 
1982- 


Page 15 

EUROPE; 


Paris 

CAC40 

2100 


%T SON o’ 
1992 


Wednesday Prev. 


Amsterdam 
Brussete " 
Frankfurt ; 
Frankfurt ; 
Helsinki 
London ■ 
London - . 
Madrid . 
Mtten 

■ Parte ; : : : 

Stockholm 

Vienna 

Zurich 


Close 

CBS Trend ‘ 104.40 

.Stock Index - 5*531.99 
DAX . . ■ • ■ 1,533J6 

FAZ . . 606.77 

HEX B46JW 

Financial Times 30 2,097 JO 
FTSS100 2,764.1 0~ 

. General index 209.20 ■ 

"-M1B 853-00 

CAC45 1,78333 

AffaeravaeriCten 99SL35 

■Stock Index 346.78 

S8S. 639^0 


Sources; Reuters, AFP 


dose Change 
104.30" +0.10 

5^50.16 -0.33 

1,544.89 -0.7t 

605.47 +0.21 

660.70 -1.61 

2.106.5 0 - 0.41 

2.792.00 -1.00 

212.00 -1.32 

865.00 -1.39 

1.792.29 -0.50 

1,002.48 -1.oT 

346.15 +0-18 

640.70 -Q.19 

lmmuii.Hul Herald Tr^irv 


Very briefly; 

• Uuon des Assurances de Paris said it would inject 1.4 billion francs 
(5260 million} of new capital into its Banque Worms subsidiary; part of 
the funds will be reinvested in three joint companies to be created by 
UAP and Banque Worms, mainly in property and financial consulting 

• Banque Bruxelles Lambert SA’s chief executive, Theo Peelers, has 
resigned; be will be replaced by Daniel Cardoo, a member of the 
executive committee. 

• PectoeySA will cut 1,250 jobs in various sectors in the nett 18 months. 

• Standard Chartered PIC said Patrick GiBam, the company's deputy 
chairman, wifi become chai rman when Rodney Galpin retires in May. j- 

• Hoesch AG said its merger with Fried. Krupp AG can now proceed after 
three of its shareholders withdrew a legal challenge to the plan. 

• DAF NV, the troubled Dutch carmaker, denied a published report that 
it may pull out of its joint truck venture with Renault in Britain. 

• Granada Group PLQ the leisure and television concern, said its pretax 

profit more than doubled in tbe year ended Sept. 26, to £130.2 million 
($200 milEon), because of cuts in operating costs. -J 

• Bass PLC reported a 17 percent rise in pretax profit for the year ended 
Sept 30, to £501 million, but was cautious about the outlook for 1993. . 

Reuters, AFX, Bloomberfc AFP, AP 


Lego to Open Park in Britain _ 

Confuted by Our Staff From Dispatches 

COPENHAGEN — Lego A/S. maker of toy building blocks, said it 
would open its first family amusement park outside Denmark on the site - 
of tbe Windsor Safari Park, west of London, in spring 1996. !; 

Lego also said its second foreign park would probably be opened in the’ 
United States around 1998. '*'■ 

Tbe concept and attractions at the new park will be inspired by 1 1 
Legoland in Denmark, a park that contains a small world of famous l 
buildings made of 35 million plastic Lego bricks and which is ther j 
country's major tourist attraction outride of Copenhagen. • ] 

Lego said h intended to spend 600 million kroner (594 million) to 1 
develop tbe British park. (AP, Reuters} 


REPUBLIC OF LEBANON 
REHABILITATION OF THE POWER SECTOR 
PRE QUALIFICATION OF CONTRACTORS 


... 


For the rehabilitation of power, transmission and distribution facilities 
throughout Lebanon, the .Republic of Lebanon has received a joint US$ 130 million 
loan from the Arab Fund for Economic and Social Development and the Kuwait 
Fund for Arab Economic Development, US$ 30 million equivalent from the Italian 
Government, and has applied for a US$ 175 million from the International Bank for 
Reconstruction and Development (IBRD), part of which will be applied towards the 
costs of rehabilitation. Negotiations are underway with other donors to secure 
additional funding. 

It is intended that the proceeds of the above loans will be applied to 
payments to prequalified contractors under contracts to be awarded for the 
following work packages: 

* overhaul, repair and retrofitting of boilers, steam turbines and auxiliaries 
of the pow f er stations of Zouk (3 x 140 MW and 1 x 170 MW), and Jieh 

( 2 x 60 MW and 3 x 69 MW); 

* overhaul repair and retrofitting of six gas turbines at Zouk (4 x 30 MW 
and 2 x 20 MW); 

* reconstruction, repair and retrofitting of 66kv/33kv/llkv substations 
(about 30); 

* reconstruction of 150 kV and 66 kV overhead lines and underground 
cables; . 

* reconstruction, repair and retrofitting of distribution networks (33 kV, 
llkV and 0.4 kV fines substations) and consumer connections. 

The works will be executed under the supervision of consultants appointed 
by Electrieite du Liban/CDR under donors guidelines. 

Due to the critical and urgent nature of the work packages the times 
allowed for bid preparation and, later, implementation at the works will be kept to 
a minimum. Therefore only contractors who are capable of working under tight 
schedules and controls need apply for prequalificatiori and such ability will be 
expected to be demonstrated during the prequalification exercise. Reasons for not 
prequali lying any firm or consortia need not be given and no costs associated in 
prequalifying will be reimbursed. Invitations for bidding will only be sent to firms 
or consortia which are prequalified. 

The Council for Development and Reconstruction (CDR) invites contracting 
forum or consortia interested in bidding for all of the packages, to .obtain 
prequalification documents from the CDR, Beirut - Lebanon that will be available by’ 
December 1992, Deadlines for submission of prequalification bids with all 
supporting -material at the CDR offices in Beirut, Lebanon is 12:00 noon on 
December 21 1Q92. 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


Page I? 

ASIA/ PACIFIC 


Foreign Investors 



Japan, EC POSCO Plans 2d China Plant 

Split Over Reflects Warm Seoul-Beijing Relations 


Hong Kong • 

Hatig-Sehg .. 

I; .HUB • " ■ - 


Singapore 

StraSs Times 


SYDNEY 1 ' — Net foreign investment in Australian stocks has 
dropped by noady 700 million dollars ($480 mfffiony in the first nmg 
, months of this year, and some analysts aresaymg they do not see any 
rigos of improvement. 

Data on foreign investment, released this week as part of the 
national accounts, showed that net foreign investment in stocks fell 
. by 304 mLDMHiddlars in the quarter ended Sqpt. 30. Thai followed a 
net gain of 415 million dollars in the tpmrtw through June ^ a net 
1 loss of 800 millioa dollars in the quarter ihitraghMarch. i 

“Foreign investors continue to abandon Australia," said Bill 
. Moschke, ananalyst with Bardays de Zoete Wedd Australia. 
‘'Anecdotal evidence suggests that theDecemba quarter win be one 
- of continuing outflows." 

A The All Oidinaries index, the broadest, stock market indicator, 
slumped 9 percent. in the fust nine moolis of the year. 

.Mr. Meacfike said the departure of foreign investment reflected the 
highlevd of privatizationin oth& countries, which has soaked upfund 


Brian Gascoigne, a trader at Prudential Bache Securities,. said: *T 
was talking with in investment bank in the U.S.- the other day and 
they told me they, wouldn't touch Australia with a barge pole. They 
said they would rather invest in New Zealand." 

Analysts have said Australia's strong labor unions, its high taxation 
and rts poor productivity tend to scare off foreign investors. They said 
figures das week showing rising foreign debt suggest to offshore 
participants that the Australian dollar & tikdy to skimp farther. 

BA Said to Near Qantas Bid 

Bloomberg Business News 

SYDNEY — British Airways has prepared a bid for a 49 percent 
stake in Qantas Airways in conjunction with Australian institutional 
investors, the Australian Financial Review reported Wednesday. 

The publication said BA’s board would meet in London an Foday 
to conader the offer. The newspaper raid BA had node A+atVri 
presentations to 1 2 fund managers and life insurers on its proposed bid 
and commitments will be sought if the directors approve the bid. 

British Airways, or any other single foreign investor, is limited to a 
25 percent stake in the carrier. The Australian government has said it 
plans to sell 49 percent of Qantas to private interests by the end of 
this year and Boat the remaining 51 percent to the public next year. 

Singapore Airlines and a consortium of Air New Zealand and 
Brier! ey Investments Ltd. are alao.expected to be bidders for the 49 
percent stake in Qamas. Analysts have estimated the value of the 
airline at about 2 mUian dollars ($1.4 billion). 


Conpikd ty Ota Statf From Dispatches 

TOKYO — Serious differences 
over prospects for the European' 
car marker are complicating the is- 
sue of Japanese auto exports to the 
Europpn Community, an EC offi- 
cial said Wednesday. 

Talks on setting a levd for EC car 
imports failed in Tokyo tins weds 
after the two rides disagreed sub- 
stantially on their forecasts fra the 
EC car market next year, said the 
official, who requested anonymity. 

“It is quite a sizable difference," 

. die EC official said. “It no 
sense to discuss the export figures if 
the outlook is so different — we are 
on two different planets,* ‘ 

The two sides need to agree on 
an estimate of . EC demand For eras 
and light cn^nv-rriai vehicles be- 
fore they can negotiate a figure far 
Japanese exports in 1993. 

The Community expects the mar- 
ket to shrink next year by nnxe than 
the estimaledJJ percent dediae for. 
1992, the official said, although he 
did not give specific figures. Japa- 
nese officials said. Itiesday that they 
forecast a slight rise. 

“We believe 1 993 will be another 
fall, more marked, against 1992," 
the EC official said. 

Ibe two rides will meet again in 
Brussels in Janaary. An agreement 
must be reached before April to 
allow Europe's car industry enough 
time to plan, the EC official said. 

Last April, Japan agreed to cut 
itsnewcar exports to the European 
Community m 1992 by about 6 
percent from 1.26 nhlhoQ in 1991. 
That was a deeper cut in exports 
than the forecast of a L5to2 per- 
cent decline in the overall market 
agreed upon by the two rides. 

Japanese carmakers already face 
a stagnant domestic market and so 
would not welcome more cuts in 
exports. (Reuters, AFP) 


Bloomberg Busmesa News . ■ 

SEOUL —Taking advantage of improved relations 
between Beijing and Stool, Pohang Inn & Steel Co„ 
South Korea's largest steelmaker, said Wednesday 
dial it planned to build a cold-rolled steel sheet plant 
in China at an estimated cost of $500 nuUtoa. 

Tbe praect is POSCO’s second sied-product piant 
in China, tn September, POSCO agreed to build a tin- 
plate factory in Shanghai. The facility, with an annua) 
capacity of 120,000 tons, mil cost $95 jnflBori. 

On Sunday, published reports in Seoul had said the 
.company had been raked by a state-run Chinese 
concern to form a consortium that would build a 2400 
kilometer (1,500 mile) highway to link Beijing and 
Bong Kong. 

la the latest deal, POSCO and the Beijing-based 
Zhou Gang Corp. signed an agreement on the project 
on Tuesday, according to Jang Bynng Hyo, a POSfco 
spokesman. POSCO will release details on costs and 
edacity after a feasibility study, he said. 

Analysts said the capacity of the plant was expected 
to reach 500,000 million metric tons a year, viewed as 
an economically effirfrait size. 

^POS CO’s big^ ^rqM to^wito_ O i ^ be ^n taking 

relations in August. South Korea’s trade with China is 
expected to jump to $10 billion this year from $5.8 
MBon last year. 1 . 


Nomura to Reduce Staff 
By Cutting Back Hiring 

Compiled by Our Stuff From tHspaKhea 

TOKYO — Nomura Securities Co„ struggling during a stock- 
market slump, said Wednesday it would reduce hiring to trim its 
staff by 1,400 jobs over the coming three years and would cut 
spending on computers by about 20 percent during that period. 

A spokesman said the work force would be cut from the current 
1 1,400 but there would not be layoffs. Most c# the cots will come from 
trimming «mu«l fairing of college graduates to 600 from 1 , 000 , 
compared with about 1,000 retirements a year. Nomura also plans to 
dose 18 domestic sales offices in department stores and shopping 
centers manned by six or seven workers each, and to cut computer 
expenses by 1 1 bflKcc yea ($88.14 mOHanX by mid- 1995. 

The news came a wedc after Moody’s Investor Sendee said it would 
tower ratings on Nomura’s senior debt to A-l from Aa-2 to reflect the 
failure of lbe company to cot costs. Personnel expenses now make up 
about 40 percent of Nomura’s costs. (AT, VPJ, Reuters) 


“POSCO appears interested in investing in dynamic 
economies in Asia, in particular China," said Namoh 
Rhee, an analyst at Jardine Fleming Securities Ltd. in 
Seoul It makes sense for an efficient producer such as 
POSCO to make sled in China, where demand is 
soaring, be said. 

POSCO produces a greater volume of steel per man-, 
hour than any other steelmaker. It competed its 
fourth and final phase of expansion in October. The 
expansion enhanced POSCO's position as the world’s 
thud- largest sted producer by increasing the compa- 
ny's annual capacity to 21 million urns. 

Mr. Rhee said that following the domestic expan- 
sion, POSCO was expected to nave free cash Qow of 
700 to 800 billion won ($891.4 million to $1.02 billiod) 
per year, starting in 1993. 

POSCO is planning to expand production capacity 
at its Vietnam-based joint-venture steel products plant 
lo 30,000 tons by adding galvanized aid corrugated 
sheet production lines. POSCO also has agreed with 
Vietnam Steel Corp. to set up a 25,000 ton-a-year 
color sheet plant in Hanoi. 

In addition, POSCO agreed last week with Myan- 
mar Metal Industries to bofld a joint-venture steel 
products plant in Burma producing 10,000 ions of 
□ails, 25,000 tons of steel bars and 6,000 tons of 
corrugated galvanized sheets. 

Toshiba Chums 
iff First in Recycling 

United Pros International 

g TOKYO — Toshiba Corp. an- 

nounced Wednesday the develop- 
ment of the world's first technology 
firin g a stock- for fainting fad ail from chlo- 

ng to trim its ride-based plastics without emit- 

od would cut ting a poisonous gas. 

hat period. Chloride-based piastres, ac- 

m the current c»unting/or25pereenioifaDnlas- 

will come from tics, have posed a refuse problem 

3 from 1 , 000 . -because they release poisonous hy- 

a also plans to drogen chloride into the air during 

and shopping conventional heat decomposition, 

cut computer Plastics have long been regarded 
95 , as difficult-to-treat waste. In addi- 

e Mid it would tioo to sometimes generating hann- 

2 to reflect the ful gas when heated, they do not 

now make up decay when disposed of in landfills, 

UP/ Reuters) preventing their use in land reda- 

1 matron projects. 




• ;5%Ta t s o n d ' 

..... 1892 ^ - 

Exchange';- . . Index 


'.TO 

1992 


HoogKong ; Hang Seng •= 

'Singapore Strafes Times 

■ Sydney . ..-AlCfeSngries 

•Tokyo 225 ' 

' , - ■ * * — ** 

Kuala Lumpur Composite 

Bangkok/ -.set; ■ ■ ' 

Seoul Composite Stock 


Manila • Coffposte. 

Jakarta Stocklndex 

New Zealand NZS&4*f 
Bombay T National Index 

Sources: Reuters, AFP 


Very briefly; 


Tokyo ; 

is Nikkei 225 

-. 20000 = ' 

— - 

cTd d “j.'TffVTrt; 

1992 

Wednesday Prev. 

Close Close Changf? 

5411.65 5504.77 •’ -1.69 

1.459.89 1,464.07 ' -0.29 

1^438.50 1,444^J ; -0.40 

17,393.68 17,313.04 +0.47 

641.89 637.23 +0.73 

874.75 8B1.33 +1.56 

650.20 659,93 -1.47 

3,635.70 ' 3348.76 -0.30 

1.273A0 . 1,266.48 +055 

28236 284.35 -0.70 

1,52556 1,539.34 -0.90 

1,190.60 1,167.40 +1-99 

bucsTBiinal HcnU Tnfarae. 


• Yaoase & Co, Japan's top dealer of foreign cars, plans to seD 20,000 
automobiles made by Adam Opel AG. a German unit of General Motors 
Com in the year to September 1993; it will begin selling the Opels on 
Jan. 1, replacing sales of vehicles made by Volkswagen AG and Audi AG. 

• Kojo Group Co. launched a 21.5 million yen (5172^00) X-ray system 
that uses hdgh-definition television technology and does not require film; 
the product allows doctors to make diagnoses directly from a monitor 
and could be useful for patients who cannot travel. 

• The Commodity Futiros Association of Japan's planning committee* 
approved proposals to end fixed brokerage commissions on futures 
trades for foreign investors and managed funds; the plan requires 
government approval and does not apply to domestic traders. 

•Inks named Qjekrawutfcy Rangarajan to succeed S- Venkfranmianan as 
governor of the Reserve Beak, the central bank. 

• France has emerged as Malaysia’s top investor, pouring in 51.62 billion 
in the first 10 months of this year, while the United Stales ranks second, 
sritfa investments of 5123 billion, and Japan is third, with $920 million. 

Reuters. AFP. Bloomberg, UPI 















































































Pa Page 20 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


I 




SPORTS 

U.S. Is Confident, 
But Cautious, Going 
Into Davis Final 


J Reuters 

FORT WORTH, Texas— Three 
oC the four members of the U.S- 
Davis Cup team appeared relaxed 
atid confident two days after arriv- 
ing for the final match against 
Switzerland that starts Friday. 
'.■But the fourth member, John 
McEnroe, was a no-show at Tues- 
day’s press conference. 

“John McEnroe won’t be here at 
the press conference, quite frankly, 
just for personal reasons,” said the 
team ca ptain, Tom Gorman. “He’d 
prefer not to be in the situation 
where he has to answer any ques- 
tions of a personal nature.” 

The US. team seemed wdl- 
pjaced to win the Davis Cup for the 
s^cotid time in the last three years. 

' - It has the No. 1 -ranked player in 
the world in Tim Courier, the No. 3 
player in Pete Sampras and the 
No. 9 in Andre Agassi 
'.“Were extremely confident and 
have a lot of belief in each other.” 
Agassi said. 

Switzerland will have the No. 


McEnroe: 
Marriage 
' Problems’ 

The Associated Press 

NEW YORK — John 
McEnroe says be and his wife, 
the actress Tatum O'Neal, are 
|. having trouble in their mar- 
riage. 

But in a statement issued 
-.through the office of his fa- 
ll' ther. Manhattan attorney 
John P. McEnroe Sr., he called 
“wildly inaccurate” newspa- 
per reports that they wQl di- 
v vorce because be won't let 
..O’Neal revive her film career. 
McEnroe. 33, and O’Neal 
1 1 29, have been married six 
'’years and have three children. 

• 'Tatum and Z are having 
■ marital problems, just as many 

I*’ other married couples do” 

' McEnroe said in the statement 
j&ued Tuesday. “I intend to 
J work hard at finding a sensible 
| '’ solution that’s best Cor our en- 
tire family.” 

He said both he and O'Neal 
\ have hired attorneys to deal 
with their marital problems. 

• O'Neal’s publicist in Los 
| ' Angeles, Steve Huvane, said 

she had no comment. 

; "This is a very painful time 
far me, and, Tm sure for Ta- 
|" turn as well," McEnroe said. 
"However public are our pro- 
fessional activities, our person- 
al problems are private and, for 
the sake of our children, I wiD 
make every effort to safeguard 
the family s privacy. 

"Therefore, I will make no 
further public comment and 
L would urge our families, Mends 
L and others to do the same.” 



35-ranked player, Marc Rosset, 
and No. 36, Jakob Hlasek. 

Tve got to be honest. I have a 
hard time picturing Jim losing to 
either Hlasek or Rosset.” said Gor- 
man. “But you can’t mistake that 
kind of confidence for being over- 
confident or for taking them light- 
ly-” . , . 

But Sampras, m particular, is not 
expecting an easy tune. The United 
States was a heavy favorite in the 
final last year, against the French 
in Lyon, but’ Sampras lost both his 
singles matches and the Americans 
lost die title. 

“At the time they were probably 
the most devastating two losses I’ve 
ever had,” Sampras said, “And I 
hope it never happens again. The 
Davis Cup should be in the United 
States. I want to be part of the team 
that wins it.” 

He admitted that he felt the pres- 
sure of playing for the United 
States last year. 

“It’s totally different than play- 
ing the U.S. Open or Wimbledon,” 
be said. “It’s a different pressure. 
You’re playing for your country 
and it can be a little bit nerve 
wracking.” 

Courier said be has not felt that 
pressure even though he is 2-4 in 
Davis Cup matches. 

“You’re one of the best players - 
in the world You go out there and 
do your best and keep your head 
high,” Courier said. "There’s no 
pressure we're not starving. We go 
out there and play the best we can 
and hopefully we can walk away 
with our heads up.” 

The best-of-five final begins Fri- 
day with two singles matches. The 
doubles wDl be played on Saturday, 
with the final two singles matches 
scheduled for Sunday. 

Gorman has not announced who 
will play singles and doubles for (he 
U.S. team. Rosset and Hlasek mil 
play both for the Swiss. 



Japan’s Giants Sign 
Barfield, Bonds and 



The Asedated Press 

Jesse Barfield, a 12-year veteran 
of major league baseball who won 
the Americas League's home run 
title with 40 in 1986, will play for 
the Yomiuri Giants next season. 
the Tokyo dab said Wednesday. 

In the United States, it appeared 
that Barry Bonds, the two-time 
most-valuable player in the Na- 
tional League, was dose to signing 
with the New York Yankees, whDe 
free- agent pitcher Jose G uzm a n 
and the Chicago Cubs had agreed 
to a four-year deal worth Si 4.35 
million and the San Francisco Gi- 
ants fired their long-time manager, 


Oaald SdnsatM/RcoKn 

Jim Cornier wanning up for practice: “There's no pressure, we’re net starving. We go out there and play ibe best we can.” 

Average Big-League Baseball Pay: $1.02 Million 


The Assocuued Press 
NEW YORK — The final fig- 
ures are in: The average salary m 
baseball topped $1 million this year 
for the first time, at $1,028,667. 

That is a 21 percent increase 
from the 1991 average of $851/492 
and is up 72 percent from the 1990 
average of $597,537, the Major 
League Baseball Players Associa- 
tion said Tuesday. 

The $153,955 increase was the 
second highest in baseball history 
behind the $177,175 rise between 
the 1990 and 1991 seasons. 

The World Series champion, To- 
ronto, was the highest-paid team. 


with the Blue Jays averaging a re- 
cord $1,719,694 per player, accord- 
ing to figures distributed by the 
players association. 

Oakland, which had the top av- 
erage last year at $1,394,119, was 
second at $1,446,650. They were 
followed by the Los Angeles Dodg- 
ers, at Sl.431,760; the Boston Rea 
Sox, at $1,430,586, and the New 
York Mets, at $1,381,298. 

The National League champ ion 
Atlanta Braves were sixth at 
51280,689, up from $686,340 in 
1991. when they were 19th. The 
California Angels had the most 
dramatic drop, going from third in 


1991 at $1,136,798 to 19th at 
$874,056. Other teams to dropwere 
San Francisco. Kansas Gty, Phila- 
riet phia, Montreal and Cleveland. 

Clevdaod had the lowest average 
at $326,537, less than one-fifth of 
Toronto's figure. The Houston As- 
tros were next-to-last at $556,921. 

There were 14 teams averaging 
$1 million or more last season, up 
from eight in 1991, the first year 
that any twain topped SI miTTirtn 

Designated hitters were the high- 
est-paid, averaging $2,415,591 , fol- 
lowed by first basemen ($2^70,0 1 1), 
starting pitchers ($1,658,702), catch- 
ers ($1,584,654) and outfielders 


($1,517,606), then second basemen 
($1,455,143). shortstops ($1,142^52), 
third basemen ($1,056,778) and re- 
lief pitchers ($853,096). 

The study was based on the 772 
players who were on active rosters or 
disabled lists on Aug. 31. The owrall 
average was $1,084,406 on opening 
day, aocofttinga study by The Asso- 
ciated Press. The average goes dowb 

ers'are released and replaca?*by 
younger players with lower salaries. 

Management’s Player Relations 
Comminee computed die average at 
$1,012,424 because it treats si g nin g 
bonuses differently from the union. 


idd, 33, a free agent, played 
in 30 games and had a batting aver- 
age of .137 last season, his third fuD 
year with the Yankees. Before that, 
he played nine years for the Toron- 
to Blue Jays. 

The Giants, who finished in a 
second-place tie with the Hanshin 
Tigers In the ax-team Central 
League; said Barfield had signed a 
one-year contract but declined to 
dismiss details. 

The contract was estimated at 
$1.7 million. Kyodo News Service 
reported. 

Orestes Destrade, a former ma- 
jor leaguer who lietoed the Seibu 
Lions win the Japan Series title, has 
said that he will not play in Japan 
next season because of family Al- 
ness, the Pacific League team said. 

Destrade, 30, won the league 
home run tide this year for the 
thir d tune 

In New York, Bonds's agent 
talked late into the night with the 
Yankees’ general manager. Gene 
Michael, and the sides were sched- 
uled to negotiate again Wednesday. 

Earlier. Eric Davis returned to 
the Los Angdes Dodgers with a big 
cut from the $3.1 million he made 
last season, agreeing to a one-year 
deal for SI million guaranteed and 


the chance to earn another SI mil- 
lion if he’s healthy. 

Davis. 30. played in just 76 
games with the Dodgers last sea- 
son, his first with them, and hit .228 
with five home runs and 32 RBIs. 

Cincinnati claimed first baseman 
Tommy Gregg on waivers from the 
Atlanta Braves and Gregg agreed to 
a one-year contract worth 5375,000. 
And Greg SwindeU became the 
first free agent offered arbitration; 
he and the Reds may now continue 
to negotiate through Jan. 8. 

The Giants fired Craig as their 
manager and hired Bob Quinn as 
their general manager. Quinn was 
fired by the Reds last month. 

Craig, the fourth-winuingest 
manager in the Giants’ hutoty, was 
swept aside by the team’s new own- 
ers seek , who are seeking to rejuve- 
nate the club's flagging fortunes. 

“I had seven great years, seven of 
the greatest years of my life;” Craig 
told the Los Angeles Tunes. “I have 
no regrets and no bitterness.” 

Guzman, a 29-year-okl right- 
hander, was 16-11 with a 3.66 
earned-nfii average for the Texas 
Rangers last season. His signing 
means the Cubs won't attempt to 
re-sign Greg Maddux, the National 
League Cy Young Award winner. 

“Our offer is off the table,” said 
the Cubs’ general manager, Larry 
Himes. 

Guzman, who has spent his en- 
tire career with the Rangers, had 
two strong years after missing 1989 
with a tom rotator cuff and spend- 
ing 1990 in the minora on injury 
rehabilitation assignments. 

Guzman, who made $1,465,000 
last season, gets a $1.5 million sign- 
ing bonus, $3,125,000 in each of the 
next two seasons and $3.3 million 
each in 1995 and 1996. 

He said he turned down higher 
offers, including one from the Yan- 
kees, and chose Chicago “because 
it is one team I have always liked.” 


Of Athletes and Risk , and the Inevitable Saddening Toll 



By George Vecsey 

Sew York Times Serna 

N EW YORK — At die time Dennis Byrd of 
the New York Jets went down with a broken 
neck, there were four of us in a car beading toward 
an art exhibition on Lmte Island. 

Talk about risk. Foolish young people in expen- 
sive cars whipped in and out of the lanes as if they 
were driving at — 

sftftsa ^ n „f 9e 

they took their "OinX 
hands off the 
wheel to make obscene gestures, and they took 
their eyes off the road to mouth vulgar words. 

By coincidence, in the car, we were talking 
about another form of danger. Our friend is an 
avid sailor, a woman who loves being out on the 
open salt water with a friendly breeze, who has 
seen the bays turn violent with capricious winds, 
who has seen people take chances for a few extra 
seconds, a few extra yards. 

Sailing is a sport for the comfortable, for people 
with money and leisure time. It would seem to 
have almost nothing in common with boxing, a 
violent sport that produces boxers like Mike Ty- 
son and Riddick Bowe from the desperate streets 


of Brooklyn. And yet in our car, we were talking 
about sailing and G.^th in the same sentences. 

If Dennis Byrd — of the most gentle and 
conrteous men ever met in a football locker room . 
— had been in that car, he would surely have ' 
joined in the conversation about taking rides in a 
sport you love. So, for that matter, would Riddick 
Bowe. a gracious man who has brought hope to his 
large family by winning the heavyweight title. 

We were talking about Mike Plant, a competitor 
at the cutting edge of his sport, which is sailing the 
largest bodies of water, single-handedly. Plant 
lived by his nerve, and apparently died alone al 
sea. about a month ago. 

Mike Plant enjoyed testing himself, over and 
over again, the way Amelia Eazhart did at the 
controls of her airplane, the way mountain-climb- 
ers do, the way football players do when they aim 
their helmets and their spinal cords at another 

h uman heing. 

Plant’s ultimate challenge was to control a new 
and finicky sailboat on the Atlantic Ocean, head- 
ing for a race in France, a race that would claim 
another sailor. 

Plant was still learning his ship when something 
happened, something sudden, something violent, 
something mysterious, something be would proba- 


bly have denied could ever happen. We all live 
with denial. As the robot jetliner pDot would say, 
“Nothing can go wron& gp wrong, go wrong.” . . 

In' retrospect;' Mike Plant’s death was probably, 
preventable: If somebody had forced him to regis- 
ter the serial numbers of his Coded electronic 
r, if somebody had recognized that he was 
ig out to sea without browing his new ship, if 
somebody had been in charge of monitoring his 
hour by hour. But it is a big ocean, and 
te nant was m a hurry. 

HE FOUR OF US in the car discussed the 


impetuous competitors like Mike Plant. But not 
one of us questioned the validity of single-handed 
offshore sailing. We understood. Somebody win 
push the limits. 

Maybe sailors learned something from Mike 
Plant’s rush to get into open waters with an 
untested boat I don’t know what the lesson is 
from Dennis Byrd’s injury. He ran into a team- 
mate on a totally legal and mundane pass rush. 

W bat I later heard about Dennis Byrd, I 
thought about Mike Plant and I thought about 
Riddick Bowe. I am an abolitionist about boxing. 


I don’t think society, whatever that means, should 
license and pay men to punch each other in the 
head, to create the minideath of another human 

.; \ . .... 

If I were king of (be world, I woukligsh the 
button on professional boxing. But whenlmeet a 
decent ana courageous athlete like Riddick Bowe, 
I wonder if 7 am a hypocrite: . 

Nothing would make me stop people from sail- 
ing dangerous waters, or climbing forbidding 
mountains, or flying above the unforgiving 
ground, f wouldn't trust myself to control a plane, 
but eray summer I sit behind my friend Alastair 
in a glider, over the weathered hills of Wales, and 1 
am glad humans learned to fly. 

Personally, I find American football to be an 
unappealing blend of violence and tedium and 
blather. But I love watching soccer players trip 
and kick and drove each other every Sunday 
morning on television, live from Italy. 

Hey, it's a rough world. I wouldn't demean a 
gallant athlete like Dennis Byrd by wondering 
why men play football I think I understand. 
Besides, it’s safer than driving on the highway, 
bemg passed by foolish young people in expensive 
cars. 


Wanderiustmg 

Reuters 

PARIS — An Armenian women's basket- 
ball team was stranded here Wednesday, 
unsure of its destination after being thrown 
out of the European club competition. 

The Adis Aboyan team from Yerevan 
tried to fly to Mirande, in the south of 
France, on the day of last week's game, but 
snow delayed departure to Paris and the 
connecting flight to Toulouse was missed. 

Another plane got it to Biarritz, but not 
until midnight, still far from the game and 
fang after the it should have finished. 

In the first round. Adis Aboyan’s oppo- 
nent from Czechoslovak was not given clear- 
ance to fly to Armenia. In the second round, 
the Armenians took a bus to Belgium, a five- 
day, 6,000-kQometer (3,700-mfle) journey, 
and got there just 15 minutes before the 
game wtis to start. It was to play next in 
Pescara, Italy. 

“They said they would see if they could 
get tickets to Italy but, if not, they hoped the 
I talians would come to Armenia instead.” a 
FIBA spokesman said- “You can’t run a 
European competition like that” 


DENNIS THE MENACE 


PEANUTS 


CALVIN AND HOBBES 



ILL KNOW THE ANSWER! 
ILL KNOW THE ANSWER! 



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NOT TOMORROW.. 
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DOONESBURY 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


AS 








Page 2& 


f 1 





Is Shackled 
In Seattle 


. Tke'Assodated Press 

• The Siaq Attack snagged a tooth 
hi Seattte , 

ShaqtiiBe O’Neal, the sensation- 
al rookie foe the Orlando Magic, 
began las first West Coatf trip as a 
National Basketball Association 
player by scoring a season-low nin e 

points on 4for-ll. shooting from 
the field and six misses in seven 
free throws Tuesday night As a 
result the SupexSbmca beat the 
Magic, 116-102. 

“Itw?s cmeof those nights where 
Ihad tl»cppdrtumties,l)m couldn’t 

NBA HIGHUGHTS 

get the ball to fail,* O'Neal said. 
^Seattle’s defense - didn’t do any- 
thing that we haven’t seal already." 

Ricky Pierce scored 27 points for 
the SuperSonics, who used a small 
lineup most of the time to thwart 
the rookie who took a 23.6-point 
average into the game. 

"He’s strong, he can nm and 
jump, but hehas to work on his free 
throws,” Pierce suit 

Kricks Ml, Trad Blazers 85: 
New York followed is 37-pomi vic- 
tory at homeovtr defending cham- 
pion Qricagp with a rout of Port- 
land, the top team in the Western 
Conference. 

Kevin Duckworth scored 18 


their record at Madison Square 
Garden to 7-0 and are the only 
unbeaten NBA team at home. 

Cavafien 111, Celtics ML Brad 
Daugherty returned from a nine- 

Sevclmd stopped vistmg^Bos- 
ton’s three-game winning streak; 

The Celtics had a 57-35 lead ear- 
ly in the third quarter, but the Cav- 
aliers took control with a 14-2 run. 

Bidets 119, Spas 106: Harvey 
Grant keyed a 19-0 ran in the first 
quarter with H) of his 27 points 
against San Antonio, and Michael 
Adams set a pro record for 3-pohtt 
baskets as Washington ended its 
four-game losing streak. 

Adams, playing for the Em time 
since pulling a groin muscle Nov. 
24 against New York, made the 
795th 3-pointer of bis seven-year 
career to move past former ABA 
star Louie Dampur into first place. 

Hanks 119,Pacers M7: Rookie 
Adam Keefe had 16 points and 14 
rebounds, both season highs, and 
Dominique .Wilkins scored -31 
points for Atlanta, his ei ghth 30- 
poini performance in 13 games. 

Keefe, the No. I pick from Stan- 
ford. scored seven points in the first 
1:40 of the fourth quarter as the 
Hawks took an 89-79 lead. 

Indiana’s Reggie Miller, who set 
a dub record with 57 points Satur- 
day against Charlotte, was limited 
to 21 points on 5 of 14 shooting. 



2 Powerhouses Tested in Openers l 

The Amwed Prat If » J • Q ‘ Z> Z>" Freshman John Wallace add<2 

The first full night of college bas- JjOjClUSfJUlf SCTQf)€S JLfV it2C6a 17 P«nts and 10 rebounds as the. 
■ ketbflU in the 1992-93 season was C> ± J ' Oiangcmmuonthdrseasoaop^ 

ahnost a dead end for top-ranked O . TT 71 TT 1 J AfP H* I er for the 16th time in coach Jim 

Mrchigan and No. 6 Seion Hah. SetOTl UdU UOIUS Utt JtUWr Boeheim’s 17 seasons. I- 

Both of the heavily-favored pow- JJ Cornell, which has lost by an. 

edtonses walked shakily away from 
near upsets Tuesday, with Michi- 
gan surviving a scare from Rice, 75- 


j+*&- 


away from surprising Rider, 87-74. 

“We’re ihe No. f r«»n in the 
country and you have to expect 
these kind of battles when you’re 
No. 1,” said Chris Webber, who led 
the Wolverines with 20 points. 
‘They gave us their best shot in the 
first half and we gave them ours in 
the second half.'* 

Rice held a 31-30 halfti me lead 
spurted to a 52-46 lead before 
Michigan came back with a 10-0 
burst that propelled it to victory in 
the season opener for both teams. 

“We’ll get better,” said Michi- 
gan’s coach, Steve Ksher. “Tins 
was just the first gam e.” 

For Seton Hall, which lost to 
No. 2 Indiana last week in the final 
of the preseason NIT Tournament, 
Jerry Walker was the answer to 
Pirates’ prayers. 

The senior forward shook o£f an 
injuiy to his right knee and came 
off the bench to produce five 
points, three assists and a steal in a 
12-2 second-half nm that saved Se- 
ton HalL 

“I thought Jerry played, extreme- 
ly wdL" said his coach, PJ. Carle- 
simo. “He gave us a presence — I 
think the last 10 or 12 times we got 
the ball inside, he either scored, got 
an assist or was fouled every time," 
Walker finished with 18 points, 
m tan«j»vK*«o five assists and five rebounds. 

Kevin Duckworth ran into a thicket of Knicks, headed by Chafes Oakley, as New York’s thorny No. 3 Kansas 76, Georgia 65: 
defense stopped Western Conference-teadfog Portland, 101-85, in Madison Square Gardes. Kansas scored just 26 second-half 



points — “We stunk it up for 20 
minutes,” said its coach, Roy Wi- 
liams — and might have had more 
of a problem bad visiting Georgia 
not shot 1 Mor -22 from the free 
throw line. 

Richard Scott led the winners 
with 18 points and hit a follow shot 
to end a seven-minute second-half 

(X)UE(a: BASKETBALL 

scoring drought, while junior col- 
lege transfer Darrin Hancock had 
14 points and eight rebounds in Ins 
Kansas debut. 

No. 4 Dnke 110, GhbsIib 62: 
Grant Hill scored a career-high 28 
points, hitting 12 of 13 shots from 
the floor, as Duke began its bid for 
a third straight national title. 

Thomas HiTl tallfa»rt ]5 of his 22 
points for the Blue Devils in the 
second half, while Bobby Hurley 
added 17 and Cherokee Parks 16. 

The victory was the 49th in 
Duke's last 50 home games. 

No. 7 North Cfcrafiia 119, Old 
Dominion 82: Donald Williams 
scored 21 points and Eric Mon trass 
added 20 as North Carolina, shoot- 
ing 86 percent in the second half, 
rolled to victory. 

The Tar Heels, playing without 
injured point guard Derrick 
Phelps, shot 75.4 percent on 43 of 
57 from the floor, including 5 of 8 
by William* Henrik Rodl replaced 
Phelps, who injured his left calf in a 
preseason game, and handed out 1 1 


assists while committing only one 
turnover. 

Peley Sessoms paced Old Do- 
minion, the defending Colonial 
Athletic Association champs, with 
20 points. 

North Carolina has won 26 of its 
last 27 season openers and 30 of 32 
under coach Dean Smith. 

No. 10 Iowa 100, Mfeassippi Val- 
ley State 69: Acre Earl scored 23 
points and blocked six shots, and 
Unis Street added 17 points in 
Iowa’s romp at borne. 

The Delta Devils hung tough 
eariy. trailing by 19-14 alter Al- 
phonzo Ford's jumper with 12:05 
left in the first half. But Iowa went 
on a 104 tear to open a 29-18 
cushion, and led by 49-28 at half- 
time. 

Ford led all scorers with 39 
points. 

No. 13 Georgia Tech 112, Florida 
A&M 83: Sophomore Travis Best 
scored 22 points and ignited a spurt 
early in the second half that carried 
the Yellow Jackets to victory. 

Florida A&M trailed by only 52- 
45 at halftime, but Georgia Tech 
had subsequent runs of 16-5 and 
17-2 to put the game out pf reach. 

Best marie 6 of 10 field goals, 
including 4 of 6 from 3-poim range. 

Forward DeLon Turner scored 
19 pants for the Rattlers. 

No. 17 Syracuse 97, Cornell 65: 
Lawrence Moten’s 29 points — 18 
of them in the first half — helped 
Syracuse crush its Ivy League 
neighbor for the 24th straight time. 


Freshman John Wallace addttl 
17 points and 10 rebounds as the. 
Orangemen won their season open- 
er for the 16th time in coach Jim 
Boeheim’s 17 seasons. h 

Cornell, which has lost by an. 
average of 27 points during its long 
streak against Syracuse, jot 16 
points from senior guard Jeff Gaea. 

The Big Red closed to 24-23 with, 
eight minutes to play in the halt- 
but Syracuse went on an 11-1 run," 
and was not threatened again. 

No. 18 Michigan St 121. Mor* ; 
head St 53: Shawn Respert scored 
a career-high 32 points, including' 
22 in the fust half, to hq}p thd, 
Spartans to a record-setting vic- 
tory. 

The 121 points brake the Michi-. 
gan State record of US against.- 
Oklahoma in 1963. Its victory raa^ 
gin record was safe, though: In 
1902, the Spartans beat Alma, 102- 

The 68 -point defeat was the, 
worst ever for Morefread State. The; 
previous worst came in 1969 when 
the Eagles lost to Jacksonville. 1 17- 
63. 

No. 21 New Mexico Sl 73. E\ 
New Mexico 64: Corey Rogers, 
substituting for injured point guard 
Sam Crawford, scored 16 points to' 
pace the unbeaten Aggies to their 
fourth victory of the season. 

No. 22 Cincinnati 87, Tex%s 
Southern 44: Nick Van Exd scored) 
21 points and Enk Martin had in, 
with 19 in Cincinnati’s romp. * 

It was the 36th consecutive! 
home-opener victory for the Bear- 
cats, as well as their largest winning, 
mar gin in an opener since 1962.1 
when they defeated DePauw. 97- J 
39. i 

J 


Jordan Misses . 
SecondGame 

The Associated Pro* 

CHICAGO — Michael Jor- 
dan was not able to play in the 
Chicago Bulls-Boston Celtics 
game Wednesday night be- 
cause of his sprained foot 

Jordan tried to practice 
Tuesday with his loot taped, 
but took only a fewjump mots 
before leaving the coon. 

“He thought he oculd put 
the cape on, step on the court 
and everything would be ail 
right,” said (he Bulls’ coach, 
FbB. Jackson.' “It wasn’t all 
right, and that concerned him. 
He wanted to -HSv^' afnothear 
look at iL^^ 7 . 

Jordan had a magnetic reso- 
nance imaging scan done Oft 
the foot- The Bulls’ trainer. 
Chip Schaefer, said the test 
showed no previously un- 
known im'ury but confirmed a 
sprained left arch. 


Condescending and Standpat, Bulls May Be Headed for Fall 


By Harvey Aiaton 

New York Tima Service 

N EW YORK — Michael Jordan reaDy said this 

after Saturday night's dreadful 37-point loss to petrtive 
the New York Kzudcc “If we play better, I think we The Bu] 
can beat this t«*m without a problem." of the o 

Jordan has to believe the Chicago Bulls are better 


1991-92 regular season. They have struggled mightily 
to win games at home. 

The National Basketball Association has more com- 
petitive teams than it bas ever bad since expansion. 
The Bulls needed to move to slay a step or two ahead 
of the competition, and they did not 


can beat this team without a problem." of the competition, and they did not. - 

Jordan has to bebeve the Chicago Bulls are better They needed to bring in another player of impact to 

than the Knicks. He’s Michael Jordan. If he doesn’t ease the colossal post-Olympic burden on their Jor- 
bebeve, who win? But “without a problem?” That’s dan- Pippen exacta, and they did not. 


lust t 
believe. 


T* <* beta, £"*»«• W 

the Bulls-Knicks KO,nx ~ 

gamp., in an inter- 
view with Newsday, Jordan referred to Scottie Pip- 


Without getting hysterical and suggesting that tbb 
Bulls are no longer formidable, they could still surety 
have used a 6 -foot - 10 (2.08-meter), sweet-passing 
Croat whom Jordan and Pippen went out of their way 
to scorn last summer in Barcelona. 

In a league in which rookies like Anthony Avail 


pen’s recent assessment of the Knicks, in effect, as Robert Hony have become productive starters, 
merely a new collection of players the Bulls had ^ gey^a] other heralded first-year talents are run- 
already beaten when they wetfwith-previdas 'teams.- 1 fimg' amuck, few could mafr* a case against Toni 
Jordan marie it dear that be agreed with Pippen, Kukoc, the so-called European Magic Johnson, being 
and that flawed sense of condescension is convincing a vast improvement over Trent Tucker when Jordan 
evidence that the Bulls are not going to win a third bmps off after straining the bottom of his foot 


straight championship this season unless they make a' After Chicago defeated Portland in six games in last 

major deal before the February trading deadline. June’s NBA finals, theTrtil Blazers had lost two of the 

The worst thing a defending champion team can do last three championship series. If they could not beat 
is take anything Tor granted. Seasons change. Teams the Bulls in June 1992, what reason was there for their 


make** 


In fact, precisely the same thinking enabled the 
Bulls to finally exorcise their demons m Detroit two 
seasons ago after they had been shown the playoff exit 


seasons ago after thevhad been shown the playoff exit 
by the buBy Detroit Pistons for three successive years. 

The title team equation is the essence of fragility. It 
is what the Bulls have had for two years, and what the 
Blazers, the Knicks. the Cleveland Cavaliers and the 
Phoenix Suns with playoff wQd card Charles Barkley 
wlD be trying to grasp next spring. 

“It's not as if they proved we didn’t belong on the 
court with th«n last year” said Clyde Drexler of the 
Blazers before Portland played the Knicks here Tues- 
day night 

T HE BLAZERS added Rod Strickland to ease the 
playmakmg burden on Terry Porter, who was not 
up to it at championship level They signed a Golden 
Stare refugee, Mario Hue, a cme-time member of the 
10 -day-contract chib who has become quite the useful 
utihtyman. 

It appears that CbfT Robinson is completing the 
same evolution to stardom that took Rppen and 
Horace Grant three years apiece in Chicago. All of 


kinks, it is dear they are bigger, deeper, better, h is a[ 
stretch to say Gerald W ilkins makes the now sirug-i 
gling Cavaliers more fearsome, but it should be re-J 
membered that last season’s push to the Eastern Con-| 
ference finals was the team’s first taste of playoff; 
success. \ 

As the Chicago press is already disgustedly harping! 
on. off-season acquisitions by the Bulls' general man- • 
ager, Jerry Krause, were 31-year-old Rodney McCray, j 
whose production last season in points, assists, re-i 
bounds, steals and blocked shots were his worst since- 
he was a rookie, and Tucker, now with his fourth teami 
in one season plus a month. * 

“You’ve got to remember that our nucleus is still' 
young,” Jordan said. “He wanted to add a couple of { 
veterans who could come in and comprehend the; 
system." i 

Actually, Krause wanted Dallas's Derek Harper, j 
but feared salary-cap complications would interfere, 
with the eventual importing of Kukoc. ' 

Is it the fault of Krause that Kukoc. whom he has \ 
pursued vigorously for three years, remains under; 
contract in Italy? Or would the impressionable 23- \ 


change- Attit 


or granted. Seasons change. Teams 
; change. The 1992-93 Bulls do not 


the Bulls in June 1992, what reason was there for their 
management to think they could, with the same nucle- 


which is why tlte Blazers believe they could handle the year-old Jordan worshipper have already been in Chi- ' 


have the air of invincibility they had for die entire us of talent, beat them in 1993? 


Bulls, if not Jordan, next time around. 

Back East, the Knicks matched up v 
Bulls last May, and even while they 


cage had it not been for the icy signals rinated across J 
lust the the pond by Jordan and Pippen? ■ 

out the Come playoff time, they will regret not having him. ! 




tA 


Major CoHaan Sam 
■AST 

Boston U. 79, UC Irvins 74 

Btiekneu 97. Mount st Mary's, M& 73 

Detow re 77. Rutoora 09 

Drawl U. LaNoti 77 

Duquwno 74. Pom St 45 

PalrfMd 77, Folrtotofi Dickinson 40 

Csarae WW naton 74. Monmouth, NJ. 54 

H nrMort 44 Dartmouth 41 

Hair crass 72, Harvard 71 

Manhattan 80, Hotstra 54 

Northeastern 90, Armv S3 

Princeton 45. Lafayette 48 

Providence 87, Brown 57 

Rhado Island 85. roret am 59 

Seton Hot) 87. RUtor 74 

Siena 42. Mortsttt 

SL Banaventure BJ, Now 74 

Sl. Pa torts 71 MdrE. Snore 41 

SvracuM 97, Cornell 45 

Towan St 71. Loyola, Md. 41 

Vermont KJ. Yote 70 

WiDMa 74. Pm <8 

W. Virolnto 74. Roden Morris 54 

SOUTH 

Alabama 9X WtcMta SL 71 

Alabama MM 12X Alabama Si. IX. 20T 

Asnatadilan St. 95. Lander 45 

Centenary Hi May 79 

Coastal Carolina 101, Method 1st Sl 

Coll, of Charleston 75, Voortwcs SO 

Duke 110, Cantsi us 42 

EL Tennessee 5L >7. Watford 74 

E. Carolina «& SI. Andrew's 48 

Fla. international 72. Miami 44 

Florida 7a Stetson 52 

Gearoe Mason 74. Martian SI. 43 

Georgia Tech 112. Florida A&M 83 

Gromblitto SL 82. Texas ColL 79. OT 

Howard u. 81 Paine 46 

James Madison 101. Furman 75 

LSU tX Mc«eese SI. 72 

Mars Hill 86. W. Carolina 74 

Marshall so. Plrt.-J ohm town 54 

Maryland ML Md>Balilmare County 80 

Mercer 82, Bmrton-Porkei M 

Middle Tern. 88, Llvlngstono 74 

Mfsussttpj 5t. 88, Austin Petty 73 

Murray Si. 9L Camooeusviile 80 

NX. Charlotte 85. N. Carolina ALT 73 

N.C WUmlnuton 9fc N. Cnrtflno SL M 

NE Lou Utono 89, Art-Monllcrtlo 75 

NldwltO St. 85. Serbia Hill 48 

N. Carolina U9, Did Dominion 83 

SE Louisiana 99, Baalist Christian 63 

Sanford 73. Betoaveti 59 

5. Carolina 91. Florida Tech 48 

6. Florida BL Bemun*CooJunan ss 
Southern U. MM, Paul Quinn 83 
Temv-Martln 82. Oakland City 71 
Tennessee St. 70. Jackson St. 63 
Tennessee Tech in, a inch Valley 60 
VMI 91, Bkieflcld CoH. 63 

Va Com wi onoicoBti m now Hampshire « 

Watte Forest 81. Rodtord 63 

William A Marv BL fLC-GreaHMra 76.20T 

MIDWEST 

Akn» 75, MaMfMd 55 

Ball SL 81. Llndntwaod 57 

Boertlno Green SL H e i delberg 5B 

Cant. MKMaan 91, Lake Superior SL 62 

OfletoMfl «7, Tom souttu*n u 

DePaul 1B3, ChleOM St. 68 

Detroit Mercy 9& Wayne, MKIl 85 

E. Illinois 71. Mote 63 

Evansville 82. MlmurHtoita 73 

lU.-CMcaoo 9L Norm Park tfi 

Indiana Sf. 7& Buffer 54 

lorn 100, MteL VOUev SL 49 

Iowa SI. 104, Buffalo 36 

Kansas 76, Gearata 65 

Kamos sl B& CoopiD SL 61 

Ltrrota. ML 48. WIscanshi 66 
mamt. Ohio M. Tiunas More «4 
MleMsan SL >21, a vt rene ad st. 53 
Missouri 103. Si lottery Rock S3 
H. Miaou 84. inineto Wastvn to 
N r r m west e rn ui, attcago so 
ONa SL 77, OMS U. 61 
SE Missouri 67, Wx-0 nta 0O7 65 
Sw Missouri St 47, Ma- Kansas CHv 44 
votoaralu 44. Air Force 58 
M. IBbufs 71 ME Illinois 71 
Wiv-MHwau4ev 84, w. Mlchtoan 75 
Xavier, onto 113. Huntfnonn 73 


SOUTHWEST 

Arto-Uttle Rock S3. Delta St 59 
Baytor 97. Sam Houston St. 44 
Louisiana Coll. 1D8. Protrte view 96 
Mlclilaan 7& Rte 71 

owahomo sl 84, Mldw»tern' SL, Texas 74 
Southern Meth. 9a SW Texas St. 69 
Sisntwr F.Ausfkr 9?, Texas W e diwn 72 
Texas 136. Oral Roberts 97 
Texas Christian 64, Loulstono Tedi 3D 
Texas Tech 72. P eppenUne 49 
Texos-Arilnaton 91, Coneerdkv Texas 86 
Tcxas-San Antonio lOL Sdirelner 82 
Tuba 101. North Texas 78 
FAR WEST 

Boise SL 79. Seattle Pacific 63 
Brieham Youno we. Arizona SI. 98 
CaiHornla 19. Socron len to St. 6S 
Colorado 72. Coitxpdo SI. 63 
E. Wash baton 89. Portland 88 
Fnesno SL 77, CS Worth rioto e 47 
Gonzoaa 91 Whitman 57 
Loyola Morymoum 88. Metre Dome. CcrtlL 77 
Montana SL 87. Carroll, Mont 39 
N. Arizona 89. SL Mary% CoL 79 
Nevada 81, Atoerlson 48 
New Mexico 89. tLMaxJfiohtonds 54 
N. Max. St. 73, 6. New Mexico to 
Oregon SL 79, Podflc u. 42 
S. Utah 60, Montana 5S 
Son Dteoo as. San Dteaa SI. 40 
Son Francisco 80. Humboktl SL S3 
Santa O ora 71, Son Jose SL 54 
Southern Cal 69, San Frundsas SL 48 
Utah 82. Montana Tech 62 
WOsMnaton 130, CSLXJtlco 47 
Weber St. 9k, BYU-riawall 86 
TOURNAMENTS 
LopchJcfc Memorial Tournament 
First Round 
Iona 80. Cotumhto 48 
SI. Johns 101. St. Frond* NY 48 


NBA Standings 


EASTERN CONFERENCE 
Atkmfic DMsieo 



W 

L 

Pet 

GB 

□rtando 

8 

4 

■467 

— 

New York . 

9 

5 

MS 

— 

NewJersov < 

- - 7 

7 

sat 

2 

Boiton 

s 

9 

XI 

4 

Washimlon 

s 

9 

X? 

4 

Miami 

4 

8 

J33 

4 

PMkxJWPfcla 

3 

8 

■273 

4VJ 


GMttUHYlMM 



Chicago 

9 

3 

ISO 

— 

Milwaukee 

9 

3 

JSO 

— 

Atlanta 

7 

6 

538 

Vh 

Charlotte 

7 

7 

J00 

3 

Cleveland 

7 

7 

JW 

3 

Indiana 

6 

7 

.442 


Detroll 

3 

9 

,250 

6 


WESTERN CONFERENCE 
Midwest Dhrlstoo 

W L Pet 


Uioh 

Houston 

Denver 

San Antonio 

Mimesete 

Dallas 

Portland 

Seattle 

Phoenix 

LA Lakers 

LAaiooen 

Socramento 

Golden Stoto 


5 5 
7 5 

6 7 

5 7 

4 7 
1 18 

Podflc Dhrisien 
9 3 
9 4 
1 4 

7 5 
7 6 

6 8 

5 8 


AIS - 
■583 Vi 

a a 2 

Ai7 m 

Mi 3 

an 6 

3S6 — 

Ml Vl 

547 1 

SO 2 
538 2 Vtr 

529 4 

385 4M 


TUESDAY'S RESULTS 
Baste* 27 22 34 a— Ml 

CfeMftnf at as 29 21— m 

Fox 6-12 3-4 16, McHale HI M 11; Mm 16- 
16 2-2 22. Daaaheriv 10-18 7-9 27. R eb o utto — 
Boston 43 (Portyi to). Clavetand 4H {Nance 
U). Mstoto-Baston 28 (Fox Lewts. Dauaka 
5). Cleveland 35 (Price 12). 

Portland 14 U M Jl- 85 

New York 25 22 24 28-MI 

Duckworth B-12 M Ifc Omttor 3-12 B-M 14.- 
tLWUltoms 6-12 M 12. Starts 4-BMliB*- 

booMis— Portland S3 (B^VUOana 9), New Yoric 

48 (Ewtna 101 . AUtlts — Portland 15 IDreter, 
SMckland SI. New York 7B (Aidheny 6). 

Sat Antonio 22 29 26 29—186 

Y WHWMWOH BBS 27—119 

Rebtofon 1 1-344-10 3. Del KearaltMd 1-222; 
Grant 1 1-19 5-6 27, Guauatia 7-16 65 22, Adams 
8-166-623. Reweeds-Sai AfitaMaSI t Robin- 


won 121. iMNhinaton 54 (Grant 12). Assisls— 
San Antonio 25 (Del Nearo 10). WaNilnaton SS 
(Overton 18). 

tndtato 26 25 « 38—187 

Atlanta 29 n 22 IT— Ilf 

mailer 5-W id -n 21, RlctiardSon 4-4 7-8 I5r 
Wilkins 18-18 9-11 31, WIMIS 1348 W 29. Ne- 
boends— Intdana 54 (Dovb 9). AJfanto 60 (WD- 
fls. Keefe Wl. Assists— tndlano 23 (MUler. 
Richardson 61. Atianto 31 ( Blaylock 8). 
H o us ton M 24 27 M— 185 

Denver 3» 19 23 31— m 

Otoluwon 11-17 8-M 20. Smith 9-15 64 23; 
WlUtams 11-18 11-12 35. Jackson 8-20 44 26. 
Rebounds Houston 58 (Otaltnean 12), Den- 
ver 45 (Mutomho 171. A ss i sts Ho ust on 17 
(Smith 31. Denver 25 tLlcfttl 7). 

Dates 18 30 26 27-181 

Utah 27 II 25 32—114 

Smith 4-11 Mil, Davis 9-13 2-5 2& Moore 7-11 
«».• KJHalaae M4 73-7727, Stockton 7-M 64 
21, JJHoione Ml 44 22. Rebounds— Dallos 47 
(Pa Knur ill. Utah 59 (KMolooe 13). Amlste— 
Dallas 21 (IuzzdHro 9). Ulab 22 (Stockton ML 
Onrtvttr 25 17 28 28— 98 

Pbouuta 23 32 29 25-189 

L-ktonSOn 1M7 3-4 27. Boaues 9-10 2-2 20; 
Owmbers 5-11 8-8 18. Cehaltas 6-15 8-11 28. 
Rebounds— Charlotte 47 (LJottaeon ill. 
Phoenix 44 (Barkley 14L Assw»~Ctittriotfe 
22 (Bosuns 12). Phoenix 24 (Bark lev 71. 
Orfcmdo 34 2* 21 28-182 

Seattle 24 25 29 36-114 

Anderson 13-19 l-22B.SUie*9-i2S-72Sr Par- 
tan 8-15 1-1 17. Plnreo W-19 74 27. Rebounds— 
Orlando 46 (OWeal 11). 5nattfe57 (Case ID. 
Assists— Or Fondo 23 (Sklles 131. Seattle U 
(Pierce J). 

LA Lcdcen Jt 2B 24 34— lie 

Sacramento 24 se 28 28-117 

Threat! 12-28 2-2 26. Smith 8-14 44 2D; Sim- 

mons 8-16 84 26, Richmond 7-15 64 21. Ro- 
boundo l m Aneetos 48 (Dtvoc 10). Sacra- 
mento 57 (WIHlome 9). Assists— L os Andes 
19 (Peeler 5), Sacr am ento 22 (Simmons 4). 


BASEBALL 

kmrimvLMsw 

BOSTON— Aaraed to two-year contracts 
with Billy Hatcher, ovffloter, and Scott 
Fletcher. In Felder. 

SEATTLE— Signed MUte Folder, outfield- 
er, to two-year contract. Named Paul.ieaki 
vke oreeMetK «f buetees d e ye loo m e a t. 

TEXAS— Named Perry Hill bullpen coach. . 

TORONTO— Agreed to two-year cu t d rotf 
with Darnell Cotes. Inffeider-oofiWder. 

Ktataasl Leaew 

CHICAGO CUBS— Agreed to tour-year con- 
trad with Jose Guzman, pitcher. 

CINCINNATI— Agreed to <our»vear con- 
tract with Jam Smiley and one-vear uxrinxj 
with Dwayne Henry. oTfchers. Put Tom So/fon. 
pttdvr. on uncondlffonat (tease woivers. 
Named Ferguson Jenkins ofaMng coorii ot 
O Bi it un ooBtoSLClolmedTommYOreBtotlrat 
basemtxvoff rmtvefsiromAtkEtto Braves and 
agreed to oneyagr contract wtfli tom. 

HOUSTON -Agreed to tour-year contract 
wtfti Doua Drabek. pitcher. 

LA. DOOGERS— Aareod to one-year con- 
tract with Eric Dovts, outfielder. 

MONTREAL— Sent Douo Sbnons, Pilcher, 
outright ie Ottawa IL 

PITTSBURGH— Named Bi8Bryfcspccia( 06 
suont la KMIra director; Tom BananLMi- 
cnari wnitara Jim Netsonand Dcvkl Klkareln 
scouting sutorvlsors; and Ron King and Kevin 
Towers nofienol seoutlng crasecnectare. 

SAN FRANCISCO— Named Beb Quinn so- 
nkirvte prestenf end general i ix ii Mlto i'gng 
stoned him to threertcar contract. Named 
Larry Baer executive via president. 

•BASKETBALL 
National Basketball Association 

CLEVELAND— Activated Brad Dough- 
erty. center, tram Mured list. Put Jar OuL 
dtoger, center, an tnlurad iigL 


CRICKET 


FIRST TEST 

Sri Loaka vs. New Zealand, Last Dar 
Wtoilnerifm. m Merohrwj, Sri Lanka 
New Zecriond 2nd Inn (nos (104 tor 8 over' 
ntoht)!l9S4 
Match was thnwn 


HOCKEY 


NHL landings 


WALES CONFERENCE 
Patrick DMstoa 



w 

L 

T Pti GF Q* 

Pittsburgh 

M 

4 

3 

39 

121 

97 

New Jenny 

13 

10 

0 

24 

79 

n 

NY Rangers 

11 

ie 

3 

25 

94 

*2 

Washington 

Jl 

» 

2 

24 

93 

89 

PtatodteMa 

9 

J® 

4 

22 

98 

98 

NY Istonders 

9 

12 

3 

21 

92 

98 


Adams DMstoa 




Montreal 

17 

6 

3 

17 

114 

77 

Quebec 

13 


5 

31 

115 

94 

Boston 

14 

7 

2 

38 

N 

e 

Bottato 

W 

11 

4 

24 

112 

91 

Hartford 

4 

17 

1 

13 

44- 

169 

Ottawa 

2 

a 

1 

5 

53 

12 


CAMPBELL CONFERS 
Norris DMstoa. 



w 

L 

T 

PtS OF SA 

Minnesota 

14 

9 

3 

31 91 

82 

Detroit 

14 

11 

1 

» 114 

97 

CMcogo 

12 

IT 

3 

27 89 

81 

Toronto 

11 

10 

3 

25 75 

>5 

Tampa Bov 

10 

15 

.2 

S2-J9 

«7 

SL Loot* 

9 12 4 

SmvttM DMstoa 

22 92 

10 

Los Angelas 

17 

7 

2 

34 118 

91 

Catoary 

14 

9 

2 

38 101 

64 

Vanaxivrr 

14 

9 

2 

3D 112 

62 

Edmonton 

9 

12 

4 

21 74 

183 

Winn loeo 

s' 

13 

2 

18 81 

94 

San Jose 

5 

19 

1 

11 <7 

114 


SOCCER 


GERMAN CUP 
Be nrtsrtlhu l j 

Hertha B5C Berlin Z PC SwemOura T 
Chemnllz PC 2. 5Y werder Bremen 1. OT 
Cart Zolas Jena 0. Baver Leverkusen 2 

ENGLISH LEAGUE CUP 
TMrd Round Replay 
Arsenal Z Deity 1 

Fourth Round 

Cnmbrisbe United L Oldham 0 
Liverpool V. Crystal Patee 1 

INTERNATIONAL FRIENDLY 
Moloysla 1. U z eoxist o n I 


TUESDAY'S RESULTS 
Minnesota ' 2 1 0—1 

Ottawa 1 t 6 — 1 

Dahton (81, Gaaner (5), EUk (4); Jellnnk 
(41. Shots M p ee l M ln n e reto (on Stdor- 
mewlcz) 13-1 V-4-J2B. Ottawa ion Wofcnluk) 18 
104 — 28. 

Pfitsbaroti a 2 *— 7 

sly. istonders e 0 1—3 

Francis (4). joor (18). Lnmleux IX). Toc- 
Chet (18) 2, JMuOon (6>,Stovans (18); Bera 
(6). Thomas (f). Lofsdte (3). Shots an geat- 
— Pittsburg (on Fitzpatrick) 9 9 4—26. New 
York (on 8gnom) 7-2-1 3—22. 

Taranto 1 2 8-3 

Now Jersey 5 I 2— « 

Berehowelcy (1). Lefebvre (1), Krushlen- 
nkl UK Todd (rj.Stostny c#t. RSehorUOl Z 
HOlIk (9), McKay C7>. Dtmeyko PI, ci per (3). 
Shots on god— Toronto (on Terror!) 11-14- 
fr—41- New jersey (on Fuhr) WMS-Sl. 
Hartford ■ 1 3-4 

SLUM 2 3 3-4 

Verteek 171. Conte 13). Crowe 02} 2; 
Sutter D>. Emerson (18), Hall (14), Shanah an 
(10) 2. Miller (81 X Swats on poo l H artfoid 
(on Hebert) 10^8-06.51. Louis (on Bwicel U- 
9-11—31 

us Aopela 5 1 s-4 

Odea ao 1 • 2—S 

Qmacnar (3). MJUen (13>2,Robltallto(ZI), 
Granato 001 K Christian (i). RoenUfe (IS). 
Ruuffu (10). Shetsea geal-Ue Angeles (on 
White) 11-6-7-21 Chicago Ion Hnidev) 20-17- 
18-47. 

Edmartaa 8 3 3—3 

Sai Joee 8 1 8-1 

Simpson (i4), Mellenhv (6). Moman (4); 
WMtnev (1). Shots On goai-Edmonton ton 
Hadtalt) 6-174-n.San Jose (enTugnutt) 84- 
14-32. 


SIDELINES 

Australian Cricket Players Fined 

MELBOURNE (AF) — Australia’s captain, Allan Border, and pace 
bowler Merv Hughes both were fined Wednesday after being found guilty 
of dissent during the first cricket test against the West Indies in Brisbane. 

Border was fined $1,400 by the International Cricket Council's match 
referee, Raman Subba Row — the highest fine imposed on any cricketer 
in the world since the ICC introduced its new code of conduct 12 months 
ago. That was half Border’s match fee; Hughes was fined $280, 10 percent 
of his match fee. 

Both were charged by umpires Steve Randdl and Terry Proe with 
disputing a decision Tuesday afternoon as Australia played to a draw. 

PGA Acts to Speed Up Slow Players 

PALM HARBOR, Florida (AP) — The U5. PGA Tour Policy Board 
has adopted tougher, more stringent guidelines involving slow play in pro 
golf tour events that, subject to ratification, could go into effect at the 
Doral Open in March. 

The new guidelines reduce from 45 to 40 seconds the time a player is 
allowed over a shot 

A player would be first warned after he was deemed to be out of 
position and had taken more (ban 40 seconds over a shot. On the second 
violation during a round, he would be penalized one stroke and fined 
SI, 000. With the third violation, he would be fined another SI, 000 and 
penalized a second stroke. The fourth violation calls for disqualification. 

For the Record 

The National Football League, reacting to (he possibility chat heavy- 
weight champion Rjddick Bowe might defend his title at halftime on a 
rival TV broadcast, said it wiD adhere strictly to a 20-minute interval at 
the Soper Bowl/a reduction of 12 minutes from last year. (WP) 

Quotable 

• Rick Majerus, University of Utah basketball coach: “They talk 
about the economy this year. Hey, my -hairline is in recession, my 
waistline is in inflation. Altogether, I’m in depresson.” 


Bulgaria Defeats Israel 


Rouen 

TEL AVTV — Barcelona striker 
Hristo Stdchkov, threatened with 
being dropped for disciplinary rea- 
sons, set up Bulgaria’s opening goal 
Wednesday in a 2-0 over Israel m a 
World Cup qualifying match. 

The victory gave Bulgaria six 
points from four matches and a tie 
with Sweden atop the European 
Group 6 . But Sweden has a match 
in hand, while France is two 
points behind but also with a 
match in band. 

The possibility of losing valuable 
points forced the Bulgarian coach, 
Dimitri Panev, to back down on his 
threat to leave out Stoichkov and 
defender Trifon Ivanov after (hey 
returned to Spain to play for their 
dubs last weekend. 

His decision proved a wise one 
when Stoichkov put Nasko Sirakov 
dear is the 55th minute and Sira- 
kov neatly lobbed the through ball 
over Israeli goalkeeper Bonny 
Ginzburg. 

Bulgaria ensured its victory sev- 
en annates from the end of the 
match when Lyuboslav Peuev took 
advantage of a mistake in the Israe- 
li penalty area to score with a low, 
left-foot shot 


Israel, beaten in all three of ii^ 
qualifying matches, pul the Bulgak 
ians tinder pressure early on, but 
the visitors came closest to scoring, 
in the 17th. minute when Sirakov s 
curling shot was well saved. h 

Israel had two dear chances at 
the start of the second half, when 
Felix Halfon, making his debut for 
the team, and Liverpool’s Ronny 
Rosenthal were stopped by excel- 
lent saves from goalkeeper Borislav 
Mihailov. • 

* Torsten Guetscbow, the Dyna- 

mo Dresden striker publicly jeered 
after admitting that he had spied 
for former East Germany’s Stas 
security police, bas quit the Buit- 
desiiga. Z 

The Tint division team Dynamo 
said Wednesday that Guetscbow 
had joined Turkey’s UEFA Cup 
team, Galatasaray. which is now 
coached by Kaiserslautern's former 
trainer, Karl-Heinz Feldkamp. - 

• The High Court in Italy has 
ruled that soccer players can bring 
criminal prosecutions against op- 
ponents who cause injury by dan- 
gerous play. The ruling was’ made 
in a case brought by an amateur 
player whose leg was broken when 
he was fouled in a match in 1985, 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 3, 1992 


ART BUCHWALD 


Unchristian Remarks 



Buchwahl 


W ASHINGTON — I was on a 
Greyhound bus going to Bal- 
timore [he other day. I came across 
a story in the newspaper concern- 
ing the trouble that Governor Kirk 
Fordice of Mississippi got into 
when, be said in a speech that “it 
was a simple fact 
of life" that the 
United Slates 
was a “Christian 
nation.’' He was 
rebuked by tbe 
governor of 
South Carolina 
who said that it 
was a Judeo- 
Chrislian coun- 
try. Fordice re- 
sponded that if 
he thought the United Suites was a 
Judeo-Chrisrian nation he would 
have said so. 

The exchange caused panic in 
the Republican Party ranks and 
there were discussions everywhere 
— even on the bus. 

The man next to me, who was 
reading over ray shoulder, said, “I 
like to think of America as a Shiite 
Muslim-Judeo-Chrisdan country.” 

‘That sounds reasonable,” I told 
him. Just then an Oriental passen- 
ger sitting behind me tapped me on 
the shoulder and said, “I prefer to 
describe the United States as a 
Buddhisi-Shiite Muslim-Judeo- 
Chrisdan nation.” 

A woman wearing a beautiful 
sari added, “That's easy for you to 
say, but has it ever occurred to you 
that everything that is wonderful 
about our lives comes from the 
Hindu culture? You can’t leave us 
out” 


The Rijksmuseum Buys 
Portrait by Rembrandt 

Remen 

AMSTERDAM — Tbe Rijks- 
museum said it bought a portrait 
by the Dutch master Rembrandt 
from two American collectors for 
59.5 million. Otto Naumann and 
Alfred Bader paid £4.18 (about $8 
million) for it at a Sotheby’s auc- 
tion in July. 

Tbe museum said tbe portrait of 
■ preacher Johannes Uvitenbogaert 
would join the “Nightwatch” as 
one of its most important Rem- 
brandts. k is signed by tbe artist 
and dated 1633. 


“I certainly won't. How about 
this: ‘What makes us the greatest 
people on the face of the Earth is 
that we are a Hindu-Buddhist-Shi- 
ite Muslim-Judeo-Chrisdan coun- 
try?” 

A man in the bade row came 
forward, “I’m from West Virginia 
and the U.S. would be another 
Albania if it was not for the Funda- 
. meat a list snake-worshipers.” 

“If you’re going to include 
snake-worshiping, you have to add- 
devil-worshiping.” The man who 
spoke these words had fangs pro- 
truding from his gums and had 
built a fire in the aisle of the bus. 

□ 

The discussion was gelling out of 
hand, so I said, T know that this 
country prides itself on accepting 
aQ kinds of religions, but you can't 
include everyone when you de- 
scribe our religious culture. It’s tnie 
that no matter where you go in 
America you'll find a group of peo- 
ple who worship their own God but 
that doesn’t mean you include ev- 
ery religion at a governors' confer- 
ence.” 

■ “You’re just saying that to elimi- 
nate the Holy Rollers," another 
passenger added as he sprinkled 
. water on the bus driver. “The coun- 
. try would never have lasted this 
long if our sect hadn’t led the way.” 

I was losing control of the bus. 
“Perhaps,” 1 suggested, “we could 
assign a different religion to the 
nation every week. That way no- 
body would be offended.” 

A Japanese man across the aisle 
opened his suitcase and took out a 
Samurai sword which he held to my 
throaL 

“Will you include Shinto as a 
national U. . religion?” 

“I was just about to mention it,” 

I assured him. 

□ 

I felt that 1 had all the bases 
covered when another person got 
on tbe bus. He was asked what kmd 
of nation he thought we were and 
he replied. “An agnostic natron.” 

I added that to the list. 

It was fascinating to have so 
many varied opinions on what kind 
of country the United States really 
is — on one bus. But we all agreed 
that Governor Fordice doesn't 
know what he's talking about — 
and each of us in our own way 
prayed for his soul 


The Star of the Show, the Son of Monk 


By Mike Zwerin 

International Herald Tribune 

P ARIS — Thelonious Sphere Monk 
fl-lc a. the “High Priest of Bop” com- 
posed “weird” umes, many of which 
turned out to be hits and left his family 
anything but destitute, contrary to popu- 
lar myth that he was an airhead. 

In the late 1970s. his son T. S. Monk, who 
handles the estate, had considerable success 
as a rhythm and Wues artist. He learned 
about producing, royalties, publishing and 
promotkxL T. S, is in a postion to invest in 
proper production of losing, propositions 
like jazz records. His first, “Take One.” is 
out on Blue Note. Also in the position to 
give away money, he runs tbe Thelocious 
Monk Institute of Jazz. 

For tbe past five years, the institute has 
sponsored a competition for unknown 
players, each year a different instrument. 
Past winners went on to sign record con- 
tracts and become instant young Turks — 
the pianist Marcus Roberts, tbe trumpeter 
Ryan Kysor and the tenorman Joshua 
Redman, for example. This fall the 
(drum) competition was a joint venture 
with Lincoln Center, where it was held. A 
jury of top pro drummers awarded first 
prize to Harold Summey, a 28-year old 
veteran erf the Washington scene. Jason 
Marsalis, 15, who members of his musical 
family say is the most musical of them all, 
made it to the semifinals. 

T. S. and his sister Barbara co-led die 
R&B band called T. S. Monk, scoring with 
the hit “Too Much Too Soon.” When 
Barbara died of cancer, he lost “my part- 
ner," and then his father died. He had 
nothing to do. felt like doing nothing. But 
being a “business guy,” realizing that if he 
didn't doit somebody else would, he creat- 
ed the institute. 

T. S. had a lot of business in him. He’s a 
musician 110 percent, but be had learned 
which business practices worked and which 
did not. And he learned the ins and outs of 
raising funds for a tax-free foundation and 
how to- pul educational programs together 
networiong with a “wonderful lady” named 
-Marie Fischer, founder and director of the 
Beethoven Society of America. Fischer died 
last year at the age of 87. At her funeral the 
critic Ira Gitier said that Thelonious Monk 
was to jazz what Beethoven had been to 


music 

Growing up as Thelonious Monk’s kid 
was never a problem. He was “a super- 
cod dad, a super-cod dude.” T. S. was 
given his first drum kit by Art Blakey, his 
fust lessons by Max Roach. It's been a 
“piece of cake, a balL” He’d like to give 
something back. 

T. S. bad learned percussion as akid by 
banging on cars. In tbe '50s, cars were 



T. S. Monk, promoting the institute by playing the music. 


made of heavy metal and nobody had car 
alarms so you could bang on them without 
problems. At the time, his father could not 
afford to buy him drums. He says lack of 
instruments and musical programs in pub- 
lic schools combined with increased social 
consciousness produced rap music. He re- 
spects rap but wants ghetto kids to learn 
instruments and develop their culture and 
is guiding the institute into educational 
situations. 

In connection with his institute work, 
every so often he would be asked to play 
by the likes of Clark Terry, Jimmy Heath 
and Wynton Marsalis. That meant he had 
to go to practice instead of “toying around 
with every drum machine on planet earth” 
in the computerized studio in his base- 
ment. basically just killing time It oc- 
curred to him that in addition to all the 
necessary blab-blah, which be is already 
good at, be could promote the institute by 
playing the music. 

The problem was that he already bad a 
name, from his father and his R&B sue- . 
cess. So if he walked on a bandstand, one 
way or another, dub owners were going to 
exploillL His name was going to be on tbe 
flyer or on tbe sign outside, someplace it 
shouldn't be, as if be were tbe star of the 
show. The only way to get around that was 
to be the star of the show. 

When he played R&B. jazz people relat- 
ed to him luce, “oh, isn't it cute? Monk's 


son plays R&B.” Playing straight-ahead 
jazz, however, it was' going to be: “Can he 
play? Is he for real?” That meant his prod- 
uct had to be unquestionable. Dead seri- 
ous. To thwart the micro-scrutiny he knew 
be would get the only solution was to “go 
like a mad dog, to take an approach like an 
NFL defensive lineman.” It was an ap- 
proach he had already teamed from his 
father, and from Bird, Trane, Miles, Max, 
and all those cats who used lo come into 
the house every day. They all had that 
attack attitude about jazz music. He at- 
tacked it as press agent, producer and 
leader as well as drummer. 

7 Jttwimg to tbe T. S. Monk Band, your 
reaction might be “too much attack, man. 
lighten up ” Their neo-hard-bop is physical 
and* fast — “Round Midnight” in triple- 
time. It ow be comp are d to hard rode, not 
materially or texturaBy, but with its take- 
no-prisoners game-plan. Modeling bis new 
incarnation principally oo Biakov’s Jazz- 
Messengers, the Karat occasio nall y misses 
tackles.'However, he presents music with a 

sheen, it sparkles, irs entertainment. 

As far as T. S: is concerned, record- 
malting is about hits. He doesn’t care if it’s 
a polka hit, a country hit, a rock hit or a 
bebop hit It’s about records. If you're 
going to make a. fait record, you have to 
rehearse. You cannot write the tunes on 
Tuesday and record them on Thursday. 
He rehearsed his jazz sextet for four 


CArooanlUnr 


months before going into the studio, he 
could afford it. He considers every tune on 
bis first jazz album “a hit. a classic. You 
can sing every song and even most solos, 
they are memorable. It's a question of 
good recording principles.” He's in the 
record business to sell records. 

His father had been “miserable" be- 
cause record companies “would not pick 
up tbe bread to give him one more day in 
the studio to get it right. They were making 
records for 55,000 and then complaining 
that jazz records don't sell.” 

T. S. considers Thelonious the “ultimate 
pop writer in jazz in that he wrote more 
tunes than people can hum off the top of 
their head than anybody." He’s on a “mis- 
sion” to promote them, and others written 
by his father's neglected peers like Kenny 
Dorham. to get “jazz music that has gener- 
ally been missed” out to the public and 
into the schools so thai students who oth- 
erwise don’t have access to obscure (and 
often sloppy) recordings can learn to ap- 
preciate music and keep it alive. 

He does not miss the more earthy R&B 
groove. He applies a lot of what he learned 
over there to neo-bop. Anyway, who 
knows, be might go back to it one day. He 
considers R&B “real music, just another 
branch of some tree.” In the meantime, 
he’s obviously having fun. He feels fortu- 
nate being “allowed” lo do this: “It’s a hell 
of an adventure.” 


PEOPLE 


Who? An Introduction 
To Katharine Hepburn 

Brel Reynolds regaled a crowd ar 
the Directors Guild in Los Angela 
with the tale of how he luredKab- 
arine Hepbmu to appear in "The 
Man Upstairs,” a made-for-TV 
Christmas movie that she says i* 
her last performance. Reynolds, 
said be was “scared to death” when 
he called Hepburn to pilch ha pro- 
ject and was taken abode when she. 
answered the phone hersdf. “Who 
the bell is this?” she demanded. 
Reynolds identified himself. 
“Who?" she repeated. “Four limes 
I said my name.” be said. “And 
every time, a ’Who? 1 ” Finally, he* 
said,' “Bun Reynolds. I was very 
big in movies at one time." Her 
response: “Call me back.” 

□ 

Prince diaries will not let Prin- 
cess Diana go with him to the Unit- 
ed States in February because he 
dreads having the spotlight on their 
marriage again, according to the 
Sun newspaper. It's only been a 
month since their disastrous trip to 
South Korea, on winch they were 
shown as an unsmiling, unfriendly 
pair. But despite what people think 
or individual members of the royal 
family, Britons remain staunch 
monarchists. So says a poll in the 
Daily Express. Asked whether tbe 
monarchy should end when Queen 
Elizabeth dies. 78percent said no, 18 
percent said yes. The poD also found 
that 71 percent believe the Duchess 
of York, who is separated from 
Prince Andrew, is the royal who has 
done the most damage to the family. 

□ 

A year after his celebrated rape 
trial WilHam Kennedy Smith has 
immersed himself in tbe grueling 
routine of a medical resident at tbe 
University of New Mexico in Albu- 
querque. He tries to keep a low 
profile. But since Smith's acquittal 
an Dec. II. 1991, the woman who 
made the accusation. Patricia Bow- 
man, has been campaigning against 
the news media. 

□ 

Pierre Cardin has become the 
first couturier to gain a seat at the 
French Institute, as a member of its 
Academie des Beaux-Arts. 


INTERNATIONAL 

CLASSIFIED 

.Appears on Page 8 


WEATHER 


CROSSWORD 


Forecast for Friday through Sunday 



TodTO 


Tomorrow 


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North America 

The Midwest wfl He breezy 
and cold Friday through the 
weekend with snow showers 
In Chicago. Detroit and 
Toronto The cold air will 
work its way eastward into 
the Northeastern United 
Stales. Snow is possible in 
New Yorfc City Friday lot- 
lowed by a blustery and coid 
weekend. 


Middle East 


Europe 

A large siorm oyer south- 
central Europe will bring 
heavy ram a lo Italy and near- 
by countries I he weekend. 
The Alps will have heavy 
snow. Pais through London 
<*$ be windy and cooler Fri- 
day and Saturday with a lew 
passing showers Pans will 
be dry Sunday, while rain 
moves Mo London 


Asia 

Much d Japan wW have dry 


sunshne. Seoul wtD have b 
cloudy to partly sunny sky 
wKh Hurries possible Satur- 
day or Sunday. Hong Kong 
and Singapore wfl be pertly 
sunny with shower* possi- 
ble. 


Today 

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tort ends in Oct. 
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44 Part of O.EJ3. 
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10 Workaholics' 
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Solution to Puzzle of Dec. 2 


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44N.F.L 

workaholics' 

delights? 

04 Hairy 
sa Kindle 
S3 Crest 
*4 Like a 
workaholic's 
workday? 
so Workaholic's 
telegram? 
as Falsify 
04 Night fight 
os Sea duck 
00 French 
connections 
07 Bell sound 
oo Silvery Ash 


DOWN 

1 Jungfrau's 
locals 

7 Ecuadorean 
novelist Juan 

Ledn 

J Flat 

« egg 

s Abstain 
0 Furnish with a 
newhousetoo 


7 Talkers no 

good doers': 

S Singer Davis 
o Tale: Abbr. 
to III. city - 
44 One who sifts 
12 Citynear Milano 
47 Biblical • 
preposition 
is Tex. city 
to Side dish 

53 Anguish 

54 Mister, in Bonn 
as Stk. holding 
Si Like Winkle 
77 Poleman? 

*8 Go out 

(hustle) 

29 Hen peck 

33 Start 

34 HershfiekJ hero 

35 Pro 

37 Hawaiian dish 

38 Pat Bradley, 

• e.g. 

39 Young man 
40U.S.NA grad. 

42 Ump's kin 

44 Moonflsh 

45 Manly 

40 Writ against a 
'debtor 


New York Times, edited by Eugene . 




3 



TT” 

— 




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8T 



1 




47 Family of a 
19th-century 
Lutheran 
theologian 
40 Languishing 


40 Switch ending 57 City on the Oka 

wovoimn, SSEtew 

^ 01 Darwtnisr 

54 Neap or ebb 62 Piper's issue 


BOOKS 


LOOKING AROUND: 

A Journey Through Archi- 
tecture 

By Witold Rybczynski Illustrat- 
ed 301 pages. $22. Viking Pen- 
guin. 

Reviewed by Christopher 
Lehmann- Haupt 

T HE fun and stimulation of 
reading Witold Rybczynski is 
that he sees objects in the frame- 
work of time. For example, in 
“Good Housekeeping,” one of the 
early essays in his new book, 
“Looking Around: A Journey 
Through Architecture,” he notes 
the growing luxuriousness of bath- 
rooms and kitchens in contempo- 
rary houses. 

Why should this be? he asks. Tbe 
rise of the kitchen can be seat as a 


shift from a backstage space where 
the help once did the work, to a 
more public space where families 
increasingly live and entertain. As 
for the bathroom, he writes: “It is 
truly a place for self-presentation 
— of oneself, to oneself. A fitting 
sign of the self-absorbed, individ- 
ualistic 1980s.” 

Meantime, the living room has 
diminished in importance because, 
according to one authority Rybc- 
zynski cites, tbe automobile has 
crane to serve as a “portable fa- 
cade” that publicly expresses social 
standing. “Cars and car travel also 
diverted time, attention and money 
away from parlor life.” 

The three-dozen pieces in this 
collection were published in a vari- 
ety of publications, from the maga- 
zine Wigwag (now defunct), where 
Rybczynski served as architecture 
critic, lo Art and Antiques and The 


New York Review of Books, 
among others. And although their 
subjects are equally various, their 
themes are of a piece and reflect 
some of the obsessions that the 
author exercised in previous books 
like “Home: A Short History of an 
Idea,” “The Most Beautiful House 
in the World” and “Waiting for the 
Weekend.” 

One of his chief concerns is what 
the balance between art and utility 
in architecture should be. It almost 
goes without saying that be admires 
tbe beauty of well-designed build- 
ings In “How to Pick an Archi- 
tect,” he describes how Phyllis 
Lambert, tbe daughter of Samuel 
Bronfman, went from success to 
success by selecting first Ludwig 
Mies van der Rohe to design the 
Seagram Building in New York 
City, which Mies’s biographer 
called “the most important tall 


building of the post- World War II 
period, and then Peter Rose to 
create the Canadian Center for Ar- 
chitecture in Montreal. Yet it vexes 
him that in tbe journal Progre ssi ve 
Architecture, below a photograph 
of a house designed by Richard 
Meier for a couple with an exten- 
sive collection of art and craft ob- 
jects, “the caption notes that be- 
cause the architect did not approve 
every artifact in the couectioo, 
some pieces were temporarily re- 
moved when the photographs were 
taken." 

Again and again in this volume 
Rybczynski is assailed by consider- 
ations of tbe practical tests that 
architecture must pass. Why do 
single-family dwellings continue to 
be so large when the average size of 
the North American family is 
Shrinking? He wonders why — ata 
time when land values are rising, 


Christopher Lehmann-Hi 
on the staff of The New ' 


BRIDGE 


when construction costs and the 
prices of existing homes seem im- 
pervious to recession, and when 
shrinking famili es have shown a 
willingness to make do with less 
space — “municipalities, reflecting 
the attitude of homeowners, have 
staunchly resisted the idea of modi- 
fying zoning regulations, to permit 
the construction of smaller nouses 
or to allow, the subdivision of land 
into smaller plots.” 

He concludes, “The chief reason 
is, sadly, selfish: smaller, less ex- 
pensve houses are perceived as a 
threat to property values and to 
communitY status, even 
bousingm the $50,000 to $80, C 
range, ‘less expensive’ by today's 
standards, is soil accessible only to 
solid middle-class citizens.” 


By Alan Truscott • 

J ANICE GILBERT FULTON, 
known to the bridge world as 
Ian Stone, was an accomplished 
actress, painter, sculptor, and 
champion at bridge, backgammon 
and word games, 

She set a record rat the' tourna- 
ment circuit by becoming a life 
master in seven months, and beat 
the old record for master points 
won in a year. She won tbe Wom- 
en’s Teams at the end of her great 
year, 1956, when she whs successful 
with a pickup team, thanks in part 
to the diagramed deal 
The Roth-Stone system, which 
revolutionized bidding in the 
(950s, calls for a psychic opening 
with 3-6 points, mainly in me suit 
bid, and a relatively ba^nced hand. 
The primary purpose, is tb direct 
the lead eventually. 


When Jan Stone, as South, 
passed her partner’s forcing re- 
sponse of one no-trump it was dear 
that her opening was psychic. The 
opponents were delighted to keep 
doubling, but West found the result 
in two spades doubled a disap- 
pointment: South could not be pre- 
vented from taking dummy’s two 
aces and four trump tricks, losing 
500. ' 

In the replay, East-West for the 
Jan Stone team played three no- 
trump, scoring 660 to win the 
board. Tt must be admitted, howev- 
er, that she was slightly fortunate. 
If West had held either the spade 
seven or right instead of a smaller 
spot, the penalty could have been 
800, not 500, and the deal would 
not have appeared in tbe classic 
Roth- Stone work “Bridge Is a Part- 
nership Game.” 


NORTH 
♦ — 
r 64 3 

- A 10 5 3 2 
* A 10 8 3 2 


WEST 
♦ A K H 3 2 
A K 10 9 
:■ 3“ 

*94 


EAST 
*87 
“QJ 7 
v K Q J 8 
*KQ J 5 


SOUTH (D) 
* Q J 10 9 6 5 
T 852 
6 A 
*76 


Both sides were vulnerable. Th 


bidding: 

South 

West 

North 

East 

1 * 

Pass 

1 N.T. 

pass 

PfiS3 

Dbl 

2 * 

Dbl.- 

2 * 

Dbl. 

Pass 

Pass 

Pass 




Wesi led the diamond rune. 


— ~*~ rSIHfl—ntT- I 


... • -■ • 





'AUSTRIA 

E2-90MH 

FRANCE 

• . 190-Wtl 

TDU.V 

172-011 

EriiiTtYTfBiM 


BAHRAM 

anon 

GERMANY" 

• -080-00© 

XENW ' 

■ >5 jM 


Ml 1 ■ 


078-tWBK) - 

GHANA 

. . Offl . 

KUWAIT • 

WO-288 

•SBWt. - 

Mii-v/gnSf. 

CZECHQSUWMOA 

dtMBKUK! 

THEBE 

E3S*’* ' ‘S--iiB 


. b-mo-ani 

'SWEDEN 

02fl-»wn 

1 1 m Mill! 

M II 


— .•AiTnuri 




WKKFTrrml 

h^ii jU " , BE 

^*TXT7* 

RELAND 


noftww •- 

056-12011 

TURKEY 

909 BQDI-227? 

-fNAtf) 

mo-flo-n 

ISRAEL 


POLAteP* 1 • 


1MTEDWNGMM 

___ oaoo-aB-oon 


•BM C WI W IHIWSBI — WKWnjwlop 


ice. 



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